ADDITIONAL DUTIES OF EXCISE (DISTRIBUTION) RULES, 1962

ADDITIONAL DUTIES OF EXCISE (DISTRIBUTION) RULES, 1962

G.S.R. 934, dated the 13th July, 1962.-In exercise of the powers conferred by section 6 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957)and in supersession of the Additional Duties of Excise (Distribution) Rules, 1958, the Central Government hereby makes the following rules, namely:-


RULE 01: SHORT TITLE

These rules may be called the Additional Duties of Excise (Distribution) Rules, 1962.


RULE 02: PROVISIONAL DISTRIBUTION OF THE SHARE OF ADDITIONAL DUTIES OF EXCISE

The share of each State of the additional duties of excise in any financial year shall be paid to the State in that financial year in eleven monthly instalments beginning with the month of May, the first ten instalments being equal to one-twelfth of the State's share as estimated in the budget for that year and the eleventh instalment being equal to the difference between the State's shares as estimated in the revised estimate for that year less the aggregate of the sums already paid.


RULE 03: FINAL ADJUSTMENT OF THE SHARE OF THE ADDITIONAL DUTIES OF EXCISE

-The State's share of the additional duties of excise in each financial year shall be finally computed with reference to the net proceeds of such distributable duties as certified by the Comptroller and Auditor-General, and the difference between the amounts so computed and the aggregate of the amounts paid to the State under rule 2-shall be paid to or recovered from the State according as the amount so computed is larger or smaller than such aggregate.