Central Excise Rules - Amendment to Modvat Rules - 25/95 - Central Excise - Non Tariff

Central Excise Rules - Amendment to Modvat Rules Notification No. 25/95-C.E. (N.T.) Dated 31-5-1995 In exercise of the powers conferred by section 37 of the Central Excises and Salt, 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 (Amendment) Rules, 1995 . (2) They shall come into force on the date of their publication in the In the said rules, in Rule 57-I of the Central Excise Rules, 1944 (hereinafter referred to as the said Rules) (i) in sub-rule (2), for the words "within 10 days of the notice of demand", the words "within 3 months from the date of receipt of the notice of demand" shall be substituted. (ii) after sub-rule (2) as so amended, the following sub-rule (3) shall be added, namely :- "(3) where a manufacturer or an assessee fails to pay the amount determined under sub-rule (I) or under sub-rule (2) within three months from the date of receipt of demand notice, he shall pay, in addition to the amount so determined, interest at such rate as may be fixed by the Board under section 11AA of the Act, from the date immediately after the expiry of the said period of three months till the date of payment." 3. In Rule 57P of the said rules, (a) the existing rule shall be numbered as sub-rule (1); (b) in the proviso, after the words "proper officer", the words "within 3 months" shall be added; (c) after sub-rule (1), the following sub-rule (2) shall be inserted, namely :- "(2) where a manufacturer or an assessee fails to pay the amount disallowed in terms of sub-rule (1) within three months from the date of receipt of communication of such disallowance, he shall pay, in addition to the amount so disallowed, interest at such rate as may be fixed by the Board under section 11AA of the Act, from the date immediately after the expiry of the said period of three months till the date of payment." 4. In Rule 57U of the said rules, (a) in sub-rule (3), for the words "within ten days of the demand", the words "within three months of the receipt of the notice of demand" shall be substituted. (b) after sub-rule (3), the following sub-rule (4) shall be inserted, namely :- "(4) where a manufacturer or an assessee fails to pay the amount determined under sub-rule (2) or under sub-rule (3) within three months from the date of receipt of notice of demand, he shall pay, in addition to the amount so determined, interest at such rate as may be fixed by the Board under section 11AA of the Act, from the date immediately after the expiry of the said period of three months till the date of payment". 5. In Rule 173-I of the said rules, (a) in sub-rule (2), for the words "within ten days of receipt", the words "within three months from the date of receipt" shall be substituted; (b) after sub-rule (2), the following provisions shall be added, namely :- "Provided that where an assessee fails to pay the deficiency within three months from the date of receipt of assessment order, he shall pay, in addition to the deficiency, interest at such rate as may be fixed by the Board under section 11AA of the Act, on such deficiency from the date immediately after the expiry of the said period of three months till the date of payment of such deficiency. Provided further that where duty on account of excess receipt is not ordered to be taken in the credit of the assessee within three months from the date of filing of return under sub-rule (3) of rule 173G, there shall be paid to that assessee, interest at such rate as may be fixed by the Board under section 11BB of the Act, on such excess receipt from the date immediately after the expiry of said period of three months till the date of payment".