Central Excise (3rd Amendment) Rules, 1992 - Modvat rules - 04/92 - Central Excise - Non Tariff

Central Excise (3rd Amendment) Rules, 1992 - Modvat rules

Notification No. 4/92-C.E. (N.T.)

Dated 1-3-1992

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 Excises (Third Amendment) Rules, 1992.

(2) These rules shall come into force on the date of their publication in the Official Gazette.

2. In the Central Excise Rules, 1944 (hereinafter referred to as the said rules), -

(i) in rule 57C, for the words "in the manufacture of a final product", the words "in the manufacture of a final product (other than those cleared either to a unit in a Free Trade Zone or to a hundred per cent Export-Oriented Unit)" shall be substituted;

(ii) in the proviso to rule 57D, for the words "in the manufacture of a final product", the words "in the manufacture of a final product (other than those cleared either to a unit in a Free Trade Zone or to a hundred per cent Export-Oriented Unit)" shall be substituted;

(iii) in rule 57F, -

(a) after sub-rule (1), the following sub-rule shall be inserted, namely :-

"(1A) Notwithstanding anything contained in clause (ii) of sub-rule (1), the inputs in respect of which a credit of duty has been restricted in terms of proviso to rule 57A, may be removed subject to prior permission of Collector of Central Excise from the factory for home consumption on payment of duty of excise equivalent to the credit availed on such inputs.";

(b) after the second proviso to sub-rule (3), the following proviso shall be inserted, namely :-

"Provided also that the credit of specified duty in respect of inputs used in the final products cleared either to a unit in a Free Trade Zone or to a hundred per cent Export-Oriented Unit under bond shall be allowed to be utilised towards payment of duty of excise on similar final products cleared for home consumption on payment of duty.".