9911796707
TMI BlogThis notification fixes the rate of deemed Cenvat credit in case of goods falling under Chapters 51 to 60 of the First Schedule to the Central Excise Tariff Act, 1985X X X X Extracts X X X X X X X X Extracts X X X X ..... nputs (hereinafter referred to as the "declared inputs") and final products falling within the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) (hereinafter referred to as the said First Schedule), as specified in the Table below, namely:- Table S.No. Inputs Final products (1) Goods falling within heading No. 51.05, 51.06, 51.07, 52.05, 52.06, 53.06, 53.07, 53.08, 54.02, 54.03, 54.04, 54.05, 55.01, 55.02, 55.03, 55.04, 55.05, 55.06, 55.07, 55.09, 55.10, 56.04, 56.05 or 56.06 of the said First Schedule. The following goods manufactured by a composite mill, namely:- (i) Processed fabrics falling under Chapters 52 (except sub-heading Nos. 5207.20, 5208.20 and 5209.10), 54 (except sub-heading Nos. 5406.10 and 5407.10) o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Schedule. 2. The Central Government further declares that, - (i) the duty of excise under the Central Excise Act, 1944 (1 of 1944); (ii) the additional duty under section 3 of the Customs Tariff Act, 1975 (51 of 1975); or (iii) the additional duty of excise under section 3 of the Additional Duties of Excise (Textiles and Textile Articles) Act, 1978 (40 of 1978), (hereinafter referred to as the declared duty) shall be deemed to have been paid on the declared inputs and the same,- (i) in case of a composite mill, shall be equivalent to the amount calculated at the rate of, - (a) 20 per cent. of the aggregate of the duty of excise leviable under the Central Excise Act, 1944 (1 of 1944) and the additional duty of excise leviable u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (a), and credit of the declared duty so deemed to have been paid shall be allowed to the manufacturer of the final products, without production of documents evidencing payment of duty on the declared inputs, at the time of clearance of the said final products. 3. The credit of declared duty allowed in respect of the declared inputs shall be utilized towards payment of duty of excise or the additional duty of excise leviable under the said Central Excise Act and the Additional Duties of Excise (Goods of Special Importance) Act, on the said final products: Provided that the credit of declared duty in respect of the declared inputs used in the final products cleared for export under bond shall be allowed to be utilized towards payment of d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of this notification shall apply only to processed fabrics manufactured from unprocessed fabrics not woven in the same composite mill, subject to the condition that no credit has been taken in respect of the declared inputs contained in such unprocessed fabrics under any other rule of the CENVAT credit Rules, 2001 or notification issued thereunder. Explanation. - It is clarified that the CENVAT credit in respect of capital goods, under rule 3 of the CENVAT Credit Rules, 2001, shall be allowed to the said composite mill subject to the conditions as specified under rule 4 of that rules. 7. The provisions of this notification shall not apply to final products on which duty of excise leviable under the Central Excise Act, 1944 (1 of 1944), o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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