Sch-05 - THE FIFTH SCHEDULE - [See section 69(1)] - Finance Bill, 2010

THE FIFTH SCHEDULE - [See section 69(1)] THE FIFTH SCHEDULE [See section 69(1)] Sl. No. Provisions of Central Excise Rules, 1944 to be amended Amendment Period of effect of amendment (1) (2) (3) (4) Rule 57AD of Central Excise Rules, 1944 as inserted by notification number G.S.R. 298(E), dated the 31st March, 2000 [27/2000-Central Excise (N.T.), dated the 31st March, 2000]. In the Central Excise Rules, 1944, in rule 57AD, after sub-rule (4), the following sub-rule shall be inserted, namely:— "(5) Where a dispute relating to adjustment of credit on inputs used in or in relation to exempted final products relating to the period beginning on the 1st day of April, 2000 and ending with the 30th day of June, 2001 (both days inclusive) is pending on the date on which the Finance Bill, 2010 receives the assent of the President, then, notwithstanding anything contained in sub-rules (1) and (2), a manufacturer availing CENVAT credit in respect of any inputs, except inputs intended to be used as fuel, and manufacturing final products which are chargeable to duty and also other final products which are exempted goods, may pay an amount equivalent to CENVAT credit attributable to the inputs used in, or in relation to the manufacture of, exempted goods before or after the clearance of such goods: Provided that the manufacturer shall pay interest at the rate of twenty-four per cent. per annum from the date of clearance till the date of payment of the said amount. 1st day of April, 2000 to 30th day of June, 2001 (both days inclusive).