Modvat - Goods notified for purpose of credit of duty - Amendment to Notification No. 5/94-C.E. (N.T.) - 60/97 - Central Excise - Non Tariff

Modvat - Goods notified for purpose of credit of duty - Amendment to Notification No. 5/94-C.E. (N.T.)

Notification No. 60/97-C.E. (N.T.)

Dated 27-11-1997

In exercise of the powers conferred by rule 57A of the Central Excise Rules, 1944, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 5/94-Central Excises (N.T.), dated the 1st March, 1994, namely; -

In the said notification, for the portion beginning with the brackets, figures and words "(ii) in the case of input imported into India" and ending with the words "ad valorem", the following shall be substituted, namely :-

"(ii) in the case of input imported into India (except when imported directly by a manufacturer of excisable goods for his own use and received in the factory of such manufacturer on or after the 27th day of November, 1997), to the extent of the amount of additional duty calculated by assuming as if the like input produced or manufactured in India is chargeable to excise duty at the rate of 10% ad valorem."