Central Excise - Provision for deemed credit in respect of iron and steel, copper, aluminium, zinc and lead etc - Central Excise - 354/63/86-TRU

Central Excise - Provision for deemed credit in respect of iron and steel, copper, aluminium, zinc and lead etc F. No. 354/63/86-TRU Dated 1-12-1986 Government of India Ministry of Finance (Department of Revenue) New Delhi Subject : Central Excise - Provision for deemed credit in respect of iron and steel, copper, aluminium, zinc and lead etc. In terms of Ministry's Order F. No. B.22/30/86-TRU, dated 29-8-1986 , the earlier order dated 7-4-1986 was amended so as to omit the provision for deemed credit in respect of wastes and scraps of iron or steel. Several representations have been received from trade representing that some Collectors are interpreting the order dated 29-8-1986 as if it would have retrospective effect and demanding recovery of all credit, availed earlier. It is clarified that the order dated 29-8-1986 would be applicable only from that date. For the period prior to 29-8-1986 allowing of credit would be governed by the earlier order dated 7-4-1986. If in terms of the earlier order it is found on the facts and circumstances of a particular case that some credit is recoverable, only such credits should be recovered.