Modvat Credit Expanded: New Headings Added to Central Excise Tariff under Rule 57A, Notification No. 61/94-C.E.

The Central Government, under rule 57A of the Central Excise Rules, 1944, issued Notification No. 61/94-C.E. (N.T.) on October 21, 1994, amending a previous notification dated March 1, 1994. This amendment extends the Modvat credit to include headings 51.01, 51.02, 52.01, and 52.02 in the Central Excise tariff. The modifications involve replacing specific heading numbers in columns of the notification's table to incorporate these new headings, thereby broadening the scope of items eligible for Modvat credit under the specified headings.