Modvat on capital goods - Amendment to Rule 57S - 32/95 - Central Excise - Non Tariff

Modvat on capital goods - Amendment to Rule 57S Notification No. 32/95-C.E. (N.T.) Dated 21-7-1995 In exercise of the powers conferred by section 37 of the Central Excises and Salt Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the Central Excise Rules, 1944, namely :- 1. (1) These rules may be called the Central Excise (Eleventh Amendment) Rules, 1995 . (2) They shall come into force on the date of their publication in the Official Gazette. 2. In rule 57S of the Central Excise Rules, 1944 after sub-rule (5), the following sub-rule shall be inserted, namely :- "(6) Notwithstanding anything contained in sub-rule (1), a manufacturer may, with the permission of the Commissioner of Central Excise and subject to such terms and conditions and limitations as he may impose, remove the moulds and dies, without payment of duty, to a job-worker for the purpose of production of goods on his behalf and according to his specifications : Provided that the goods so manufactured and the said moulds and dies are returned to the factory of the manufacturer, who supplied the moulds and dies, within a period of three months from the date of their receipt or such extended period as the Commissioner of Central Excise may permit : Provided further that where such moulds and dies are not received back within a period of three months from the date of removal of such moulds and dies or within such extended period as the Commissioner of Central Excise may permit, duty shall be paid equivalent to the credit taken on the said moulds and dies".