S. No. 337 of Notification No. 12/2012-Central Excise dated 17-3-2012 provided Nil excise
duty on goods for setting up of Ultra Mega Power Project specified in List No. 10 of the said
Notification.
In case of goods for a Project for which certificate regarding Ultra Mega Power Project status is provisional, the exemption is subject inter alia to condition that the Chief Executive Officer of the Project furnishes a bank guarantee or fixed deposit receipt for a term of 36 months or more.
This condition is being amended to prescribe furnishing of bank guarantee or fixed deposit receipts for a period of 42 months. Condition No. 42(b) of Notification No.12/2012- Central Excise, dated 17th March, 2012 as amended by notification No.12/2015-Central Excise, dated 1st March, 2015 refers.
In case of goods for a Project for which certificate regarding Ultra Mega Power Project status is provisional, the exemption is subject inter alia to condition that the Chief Executive Officer of the Project furnishes a bank guarantee or fixed deposit receipt for a term of 36 months or more.
This condition is being amended to prescribe furnishing of bank guarantee or fixed deposit receipts for a period of 42 months. Condition No. 42(b) of Notification No.12/2012- Central Excise, dated 17th March, 2012 as amended by notification No.12/2015-Central Excise, dated 1st March, 2015 refers.
