Modvat credit - On paper and paperboard - 257/87 - Central Excise - Tariff

Modvat credit - On paper and paperboard

Notification No. 257/87-C.E.

Dated 8-12-1987

In exercise of the powers conferred by rule 57A of the Central Excise Rules, 1944, the Central Government hereby makes the following further amendment in the notification of the Government of the India in the Ministry of Finance (Department of Revenue) No. 177/86-Central Excises, dated the 1st March, 1986, namely :-

In the said notification, -

(a) in the second proviso, Clause (1) shall be omitted;

(b) after the second proviso and before the Table, the following proviso shall be inserted, namely :-

"Provided also that the credit of the duty of excise under the Central Excises and Salt Act, 1944 (1 of 1944) and the special duty of excise under the Finance Act, 1985 (32 of 1985) paid on the inputs, namely, paper and paperboard [other than paper and paperboard falling under Heading Nos. 48.03, 48.06, 48.09, 48.10 or sub-heading No. 4811.40 of the Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) or the paper and paperboard produced or manufactured in a free trade zone or by a hundred percent export oriented undertaking], falling within Chapter 48 of the Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) and used in the manufacture of final products in any place in India, shall be restricted to the extent of Rs. 800 per tonne or the actual duty paid, whichever is less."