12th Amendment to Central Excise Rules 1944 extends Modvat credit on capital goods under Heading 52.01 and 52.02.

The Central Government has issued the 12th Amendment to the Central Excise Rules, 1944, under the authority of section 37 of the Central Excises and Salt Act, 1944. This amendment extends the Modvat (Modified Value Added Tax) credit on capital goods to include those classified under Heading 52.01 and 52.02. The amendment, identified as Notification No. 60/94-C.E. (N.T.), was enacted on October 21, 1994, and is effective from the date of its publication in the official Gazette. The specific change involves omitting the figures "52.01, 52.02" from item (ii) in the Annexure below rule 57Q.

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