Refund of Modvat credit on inputs used in goods exported under bond - Amendment to Notification No. 85/87-C.E., dated 1-3-1987 - 40/95 - Central Excise - Non Tariff

Refund of Modvat credit on inputs used in goods exported under bond - Amendment to Notification No. 85/87-C.E., dated 1-3-1987 Notification No. 40/95-C.E. (N.T.) dated 27-12-1995 In exercise of the powers conferred by sub-rule (4) of rule 57F of the Central Excise Rules, 1944 the Central Government hereby further amends the Notification No. 85/87-Central Excises, dated 1st March, 1987, namely :- In the Appendix to the aforesaid notification,- (1) in paragraph 2, after the words "a calendar year", the following proviso shall be inserted, namely :- "Provided that, notwithstanding anything stated above, the claims for such refund may be made for each calendar month where the average export clearances of dutiable goods in value terms is seventy per cent of more of the total clearances of dutiable goods in the preceding three months". (2) in paragraph 5 after the word "quarter", the words "or month" shall be inserted; (3) in Form `A', (a) for the word "quarter", wherever it occurs, the words "quarter or month" shall be substituted, (b) after paragraph iv, in third declaration, for figures, brackets and letters "12(A)", the figures, brackets and letter "12(1)(b)" shall be substituted.