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TMI BlogModvat - Deemed Credit for yarn and fibres of Chapters 51 to 56 - Notification No. 11/96-C.E. (N.T.) - SupersededX X X X Extracts X X X X X X X X Extracts X X X X ..... roducts falling within the Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), namely :- Sl. No. Inputs Final Products (1) (2) (3) 1. (i) goods falling within heading No. 51.05 of the said Schedule (ii) goods falling within heading No. 55.01, 55.02, 55.03, 55.04, 55.05, 55.06 or 55.07 of the said Schedule (iii) goods falling within heading No. 51.06, 51.07, 52.05, 52.06, 53.06, 53.07, 53.08, 54.02, 54.03, 54.04, 54.05, 55.09, 55.10, 56.04, 56.05 or 56.06 of the said Schedule The following goods manufactured by a composite mill, namely :- (i) Processed fabrics falling within Cha-pter 52 (except sub-heading Nos. 5207.10, 5208.10 and 5209.10) or Cha-pter 54 (except sub-heading Nos. 5406.10 and 5407.10) or Chapter 55 (excep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er section 3 of the Additional Duties of Excise (Textiles and Textile Articles) Act, 1978 (40 of 1978), (hereinafter referred to as declared duty) shall be deemed to have been paid on the inputs declared herein and the same. (I) in case of a composite mill, shall be equivalent to the amount calculated at the rate of - (a) 40 per cent of the duty of excise leviable under the Central Excises and Salt Act, 1944 (1 of 1944), read with any notification for the time being in force, on the final products of cotton (not containing any other textile material) declared herein. (b) 60 per cent of the duty excise leviable under the Central Excises and Salt Act, 1944 (1 of 1944), read with any notification for the time being in force, on the final p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... justment 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 such refund of credit of declared duty shall be allowed if the manufacturer avails of drawback allowed under the Customs and Central Excise Duties (Drawback) Rules, 1971, or claims rebate of duty under rule 12, in respect of such duty. 4. The provisions of this notification shall not apply to a manufacturer (other than composite mill) who avails any credit in respect of inputs (other than processed fabrics when received as an input) under any notification issued under sub-rule (1) of rule 57A of the said Rules of 1944. 5. In respect o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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