TMI BlogThis notification fixes the rate of deemed Cenvat Credit in respect of articles of apparel and clothing accessories, not knitted or crocheted, falling under Chapter 62 of the said First ScheduleX X X X Extracts X X X X X X X X Extracts X X X X ..... articles of apparel and clothing accessories, not knitted or crocheted, falling under Chapter 62 of the said First Schedule 29th June, 2001 Notification No. 54/2001-Central Excise (N.T.) In exercise of the powers conferred by rule 11 of the CENVAT Credit Rules, 2001, the Central Government hereby declares the following inputs (hereinafter referred to as the "declared inputs") ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (ii) the additional duty under section 3 of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the declared duty) shall be deemed to have been paid on the declared inputs and the same shall be equivalent to the amount calculated at the rate of 20 per cent. of the duty of excise leviable under the Central Excise Act, 1944 (1 of 1944) read with any notification for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f duty and, where for any reason, such adjustment is not possible, by refund to the manufacturer subject to such safeguards, conditions and limitations as may be specified by the Central Government in the Official Gazette: Provided further that no credit or refund of such declared duty shall be allowed if the manufacturer avails of drawback allowed under the Customs and Central Excise Du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1944), has not been levied or paid or has been short-levied or short-paid or erroneously refunded by reason of fraud, collusion or any wilful mis-statement or suppression of facts, or contravention of any provision of the said Central Excise Act or of the rules made thereunder with intent to evade payment of duty. 6. This notification shall come into effect on and from the 1st day of July, 2001. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t under rule 3 of the CENVAT Credit Rules, 2001, in respect of the declared inputs where the said declared inputs are used in manufacture of final products other than the said final products. Explanation IV.- It is hereby clarified that credit of the declared duty shall be allowed in respect of final products lying in stock as on the 30th April, 2001 in the premises of the manufacturer registe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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