04-18-2009, 06:27 PM
<center>Federal Excise Act, 2005
U/S 6 </center>
Adjustment of Duties of Excise-
(1) For the purpose of determining net liability of duty in respect of any goods, the duty already paid on goods specified in the first Schedule and used directly as Input goods for the manufacture or production of such goods shell be deducted from the amount of duty calculated on such goods.
(2) Adjustment of duty of excise under sub section (1) shell be admissible only if a person registered under this Act hold a valid proof to the effect that he has paid the price of goods purchased by him including the amount of duty and received the price of goods sold by him including the amount of duty through banking channels including online payment whether trough credit card or otherwise.
(3) Notwithstanding the provisions of sub section (1), the board may, disallow or restrict whole or part of the amount of or otherwise regulate the adjustment of duty in respect of any goods or class of goods.
U/S 6 </center>
Adjustment of Duties of Excise-
(1) For the purpose of determining net liability of duty in respect of any goods, the duty already paid on goods specified in the first Schedule and used directly as Input goods for the manufacture or production of such goods shell be deducted from the amount of duty calculated on such goods.
(2) Adjustment of duty of excise under sub section (1) shell be admissible only if a person registered under this Act hold a valid proof to the effect that he has paid the price of goods purchased by him including the amount of duty and received the price of goods sold by him including the amount of duty through banking channels including online payment whether trough credit card or otherwise.
(3) Notwithstanding the provisions of sub section (1), the board may, disallow or restrict whole or part of the amount of or otherwise regulate the adjustment of duty in respect of any goods or class of goods.
