Money credit declaration once submitted under Rule 57(O) - Continuation of validity irrespective of change in Notification - Regarding - Central Excise - 14/93-CX.8

Money credit declaration once submitted under Rule 57(O) - Continuation of validity irrespective of change in Notification - Regarding Circular No. 14/93-CX.8 Dated 8-11-1993 [From F. No. 263/16/93-CX.8] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise Customs, New Delhi Subject : Money credit declaration once submitted under Rule 57(O) - Continuation of validity irrespective of change in Notification - Regarding. In the Central Advisory Council Meeting held on 7th November, 1992, ASSOCHAM had raised a point relating to submission of declaration for availing money credit on the above subject and it was requested that with each change of Notification under Rule 57(K) a fresh declaration need not be insisted upon. It is reported that in some Collectorates, credit has been disallowed only for the reason that fresh declaration was not filed with the revised notification. 2. Matter has been considered by the Board. It is observed that Rule 57(O) provides for the filing of the declaration with the Assistant Collector indicating the description of the final products manufactured in the factory and the inputs intended to be used in each of such final product. So long the inputs remain the same and the final product is also the same it would not be necessary to file a fresh declaration. However, in case there is a variation of the inputs or of the final product consequent to an issue of the notification or otherwise, declaration is required to be filed.