Modvat credit amendment to Notification 177/86 - 175/87 - Central Excise - Tariff

Modvat credit amendment to Notification 177/86

Notification No. 175/87-C.E.

Dated 19-6-1987

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 India in the Ministry of Finance (Department of Revenue) No. 177/86-Central Excises, dated the 1st March, 1986, namely :-

In the said notification, for the second proviso, the following proviso shall be substituted, namely :-

"Provided further that, -

(1) the credit of specified duty paid in respect of inputs, namely paper and paper board (other than the paper and paper board produced or manufactured in a free trade zone or by a hundred per cent 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;

(2) the credit of specified duty paid in respect of inputs, namely, vegetable products (other than vegetable products produced or manufactured in a free trade zone or by a hundred per cent export-oriented undertaking) falling under sub-heading No. 1504.00 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. 900 per tonne or the actual duty paid, whichever is less;

(3) the credit of specified duty paid in respect of inputs, namely, the goods falling under Heading Nos. 72.15 and 73.09 and obtained from breaking-up of such ships, boats and other floating structures as are manufactured in India (other than the goods manufactured in a free trade zone or by a hundred per cent export-oriented undertaking) and used in the manufacture of final products in any place in India shall be restricted to the extent of Rs. 365 per tonne or the actual duty paid, whichever is less.".