Central Excise - Provision for deemed credit in respect of steel sheet of thickness not exceeding 5 mm - Regarding - Central Excise - B 22/5/86-TRU (Pt)

Central Excise - Provision for deemed credit in respect of steel sheet of thickness not exceeding 5 mm - Regarding F. No. B 22/5/86-TRU (Pt) Dated 12-6-1986 Government of India Ministry of Finance (Department of Revenue) New Delhi Subject : Central Excise - Provision for deemed credit in respect of steel sheet of thickness not exceeding 5 mm - Regarding Representations have been received from various manufacturers and their Associations, manufacturing various final products specified in notification No. 177/86-C.E., dated the 1st March 1986, issued under Rule 57 of the Central Excise Rules, 1944, regarding allowing of credit of a rate higher than Rs. 365 per tonne already allowed vide Order No. B. 22/5/86-TRU, dated 7-4-1986 issued by the Ministry of Finance (Department of Revenue). The Government have decided, after considering representations made in this regard, to issue the following directions under the second proviso to Rule 57 G (2) of the said rule in partial modification of the aforesaid order. 2. Steel sheets of thickness not exceeding 5 mm and falling under Heading No. 72.12 of the schedule to the Central Excise Tariff Act, 1985 (5 of 1986), purchased from outside and lying in stock on or after 1-6-1986 with the manufacturers manufacturing the final products specified in the Notification No. 177/86-C.E., dated the 1st March, 1986, may be deemed to have paid the specified duty at the rate of Rs. 500 per tonne and a credit of the specified duty in respect of such sheets used in the manufacture of the said final products on which the duty of excise is leviable either in whole or in part, may be allowed at the rate of Rs. 500 per tonne without production of documents evidencing payment of duty. No such credit shall, however be allowed. (i) if in respect of any inputs the credit of specified duty paid thereon has already been availed of under any rule or notification granting such credit, (ii) if such inputs are clearly recognisable as being non-duty paid or charged to nil rate of duty, or (iii) if in respect of any inputs where the reduction of duty as provided under the proviso to Notification No. 55/86-C.E., dated the 10th February, 1986, is claimed on the ground that the inputs have been manufactured with the aid of electric furnace and documentary, evidence exists to show that the reduced duty has been paid.