Goods received under DEEC Scheme to be accounted for in a separate raw material account in Form IV - Regarding - Central Excise - 23/93-CX. 8

Goods received under DEEC Scheme to be accounted for in a separate raw material account in Form IV - Regarding Circular No. 23/93-CX. 8 Dated 7-12-1993 Government of India Ministry of Finance (Department of Revenue) Central Board of Excise Customs, New Delhi Subject : Goods received under DEEC Scheme to be accounted for in a separate raw material account in Form IV - Regarding. It has come to the notice that divergent practices are prevailing in respect of accounting of inputs obtained duty-free under DEEC Scheme and duty-paid indigenous inputs for availing Modvat credit. Some units are found to be accounting for the duty-free inputs received under DEEC Scheme in the Modvat account in form RG 23A Pt. I along with duty-paid inputs. 2. The above practice of accountal of duty-free imported inputs received under DEEC Scheme in the RG 23A Pt. I is irregular and creates confusion as well as difficulty in checking accountal of the Modvat credit. For the sake of uniformity and for removal of confusion, it is decided that the goods obtained under the DEEC Scheme should be accounted separately in Form IV register prescribed for raw material with necessary note on the register "REGISTER FOR RAW MATERIALS RECEIVED UNDER DEEC SCHEME". Further, the duty-paid inputs for availing Modvat credit shall however, continue to be accounted for in the RG 23A Pt. I. Further, the goods received i.e., above-mentioned duty-free inputs cannot be allowed for job work under Rule 57F(2).