Deemed credit
TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA EXTRAORDINARY, DATED THE 31ST MARCH. 2000
11 CHAITRA, 1922 (SAKA)
GOVERNMENT OF INDIA
MINISTRYOF FINANCE
(DEPARTMENT OF REVENUE)
New Delhi, dated the 31st March. 2000
11 Chaitra, 1922 (Saka)
NOTIFICATION
No. 30/2000-Central Excise (N.T.), dated 31-3-2000. [effective from 1-4-2000]
In exercise of the powers conferred by rule 57AK of the Central Excise Rules, 1944, the Central government hereby declares the following inputs and the final products falling within the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), namely:-
| Inputs | Final products |
| Processed textile fabrics falling under Chapters 52, 54 or 55, or processed textile fabrics of cotton or man-made fibres falling under heading Nos. or sub-heading Nos. 58.01, 58.02, 5806.10, 5806.40, 6001.12, 6001.22, 6001.92, 6002.20, 6002.30, 6002.43 or 6002.93, of the said First Schedule and on which duty of excise has been paid under section 3A of the Central Excise Act, 1944 (1 of 1944) | All goods falling under chapter 59 of the first Schedule to the Central Excise Tariff Act, 1985 ( 5 of 1986) |
2. The Central Government further declares that the duties of excise under the Central Excise Act, 1944 (1 of 1944) and the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957), shall be deemed to have been paid (hereinafter referred to as deemed duty) on the inputs declared herein and the same shall be one rupee each per square meter of such inputs, and credit of the deemed duty so determined shall be allowed to the manufacturer of the final products.
3. (1) The credit of deemed duty allowed in respect of the duty of excise under the said Central Excise Act, shall be utilised only towards payment of the duty of excise leviable under me said Central Excise Act on the final products, and no part of the credit allowed shall be refunded in cash or by cheque.
(2) The credit of deemed duty allowed in respect of the duty of excise under the said Additional Duties of Excise (Goods of Special Importance) Act, shall be utilised only towards payment of the duty of excise leviable under the said Additional Duties of Excise (Goods of Special Importance) Act on the final products, and no part of the credit allowed shall be refunded in cash or by cheque.
4. The provisions of this notification shall apply only to those inputs which have been received directly by the manufacturer of the final products from the factory of the manufacturer of the said inputs under the cover of” an invoice declaring that the appropriate duty of excise has been paid on such inputs under the provisions of section 3A of the said Central Excise Act. .
5. This notification shall come into effect on and from the 1st day of April, 2000.
(Sanjeev Sachdeva)
Deputy Secretary to the Government of India
F.No. B4/4/2000-TRU
