Deemed Credit for yarn and fibres - Amendment to Notification No. 29/96-C.E. (N.T.) - 04/97 - Central Excise - Non Tariff

Deemed Credit for yarn and fibres - Amendment to Notification No. 29/96-C.E. (N.T.) Notification No. 4/97-C.E. (N.T.) Dated 1-3-1997 In exercise of the powers conferred by sub-rule (5) of 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 notification of Government of India in the Ministry of Finance (Department of Revenue) No. 29/96-Central Excises (N.T), dated the 3rd September, 1996, namely :- In paragraph 2 of the said notification,- (i) in clause (I), for sub-clause (b), the following sub-clause shall be substituted, namely : - "(b) 50 per cent of the duty of excise leviable under the Central Excise Act, 1944 (1 of 1944), read with any notification for the time being in force, on the final products other than those specified in sub-clause (a),"; and (ii) in clause (II), for sub-clause (b), the following sub-clause shall be substituted, namely : - "(b) 60 per cent of the duty of excise leviable under the Central Excise Act, 1944 (1 of 1944), read with any notification for the time being in force, on the final products other than those specified in sub-clause (a),".