Central Excise - Dutiability of waste and scrap of steel - Doubts regarding - Central Excise - 139/19/87-CX.4

Central Excise - Dutiability of waste and scrap of steel - Doubts regarding F. No. 139/19/87-CX.4 Dated 24-4-1987 Government of India Ministry of Finance (Department of Revenue) New Delhi Subject : Central Excise - Dutiability of waste and scrap of steel - Doubts regarding Doubts have been raised as to whether waste and scrap of steel arising out of duty paid steel material, on which the Modvat credit has been availed of, is entitled for full exemption of excise duty under notification No. 69/87-C.E., dated 1-3-1987, or not. 2. The matter has been examined. Waste and scrap of steel, falling under sub-heading 7203.20, is chargeable to nil rate of excise duty in terms of S. No. 1 of the Table annexed to notification No. 69/87-C.E., dated 1-3-1987 subject to fulfilment of the conditions specified therein. Hence, waste and scrap falling under sub-heading 7203.20, which otherwise satisfying the conditions stipulated in the notification, be entitled to exemption under the said notification even though the Modvat credit may have been availed on the iron and steel input from which such waste and scrap has arisen.