CG extends Bank Guarantee as an option in respect of Excise duty exemption for Mega/ Ultra mega power projects

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE)

New Delhi, the 27^th June, 2012

Notification No. 28/2012-Central Excise

G.S.R. 509(E).-In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 12/2012-Central Excise, dated the 17^th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 163(E), dated 17^th March, 2012, namely:-

           In the said notification, in the ANNEXURE,-

A.   in Condition No. 42, for the words “Fixed Deposit Receipt”, the words “Fixed Deposit Receipt or Bank Guarantee” shall be substituted.    

B.   in Condition No. 43, for the words “Fixed Deposit Receipt”, the words “Fixed Deposit Receipt or Bank Guarantee” shall be substituted.

[F. No. 354/94/2011- TRU]

(Rajkumar Digvijay)

Under Secretary to the Government of India

Note:  The principal notification No. 12/2012-Central Excise, dated the 17^th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 163(E), dated the 17^th March, 2012, was last amended vide notification No. 24/2012-Central Excise, dated the 8^thMay, 2012, published vide number G.S.R. 339(E), dated the 8^th May, 2012.