Matches - Credit on C.E. stamps under proviso to Rule 65(4) of C.E. & Salt Act, 1944 - Clarification regarding - Central Excise - 1/88-CX.8

Matches - Credit on C.E. stamps under proviso to Rule 65(4) of C.E. Salt Act, 1944 - Clarification regarding Circular No. 1/88-CX.8 Dated 8-4-1988 [From F. No. 261/36/11/87-CX.8] Government of India Ministry of Finance (Department of Revenue) New Delhi Subject : Matches - Credit on C.E. stamps under proviso to Rule 65(4) of C.E. Salt Act, 1944 - Clarification regarding. It has been brought to the notice of the Board that the term "unused" occurring in the proviso to rule 65 (4) of the C.E. Salt Act, 1944 is being interpreted to mean stamps which are not affixed on the match boxes. Accordingly, credit stamps which are affixed on matches, packed in bundles (but unpaid) are being treated as used and thereby excess quantity of credit is availed than the security tendered. The matter has been examined by the Board. It is clarified that the term "unused" would cover the C.E. stamps whether fixed on the matches (which are not cleared) as well as those which are still to be affixed. Therefore the amount of security should be determined on the basis of this interpretation while issuing central excise stamps on credit to the licencees. Suitable action to recover any excess credit should be taken urgently. This disposes off C.C.E.,Madurai's letter C. No.V/36/03/30/97/86 -CX.2, dated 23-3-1987 Field formations may be informed suitably.