Amending Notification No. 177/86-C.E. so as to allow credit or set-off of special excise duty paid on inputs used in finished products under Modvat scheme - 10/90 - Central Excise - Non Tariff

Amending Notification No. 177/86-C.E. so as to allow credit or set-off of special excise duty paid on inputs used in finished products under Modvat scheme Notification No. 10/90-C.E. (N.T.) Dated 20-3-1990 In exercise of the powers conferred by rule 57A of the Central Excises Rules, 1944, the Central Government hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue) No. 177/86-Central Excises, dated the 1st March, 1986, namely :- In the said notification, - (a) in the opening paragraph, in clause (ii a), the word "and" ocurring at the end shall be omitted and after clause (iia), the following clause shall be inserted, namely :- "(ii b) the special duty of excise under sub-clause (1) of clause 65 of the Finance Bill, 1990, which clause has, by virtue of the declaration made in the said Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931), the force of law; and"; (b) in clause (2) of the first proviso, for the words, brackets and figures "the special duty of excise leviable under sub-section (1) of section 37 of the Finance Act, 1989 (13 of 1989)", the words, brackets and figures "the special duty of excise leviable under sub-clause (1) of clause 65 of the Finance Bill, 1990, which clause has by virtue of the declaration made in the said Bill under the Provisional Collection of Taxes Act, 1931 (16 of l931), the force of law" shall be substituted.