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Modvat - Deemed credit in respect of rerollable material - Central Excise - 342/1/88-TRUExtract Modvat - Deemed credit in respect of rerollable material F. No. 342/1/88-TRU Dated 1-6-1989 Government of India Ministry of Finance (Department of Revenue) New Delhi After considering representations received regarding grant of credit of excise duty paid on re-rollable materials on a deemed basis, the Government have, in supersession of order F. No. 332/30/87-TRU, dated the 20th October, 1987 , decided to issue the following directions under the second proviso to Rule 57G(2) of the Central Excise Rules, 1944 : Ingots and re-rollable materials of iron or steel purchased from outside and lying in stock on or after the 1st day of June, 1989 with the Rerollers may be deemed to have paid duty at the rate of Rs. 500 per tonne, and the credit of duty under Rule 57A of the said Rules in respect of such ingots and re-rollable materials used, without undergoing the process of melting, in the manufacture of goods falling under Chapter 72 or 73 of the Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), may be allowed at the rate of Rs. 500 per tonne, without production of documents evidencing the payment of duty.
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