Modvat - SSI - Power to grant notional credit in respect of SED

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..... respect of SED. Reference is invited to this Ministry's letter of even number, dated the 18th March, 1988, regarding the power to grant notional credit in respect of special excise duty under Rule 57B of the Central Excise Rules read with Notification No. 175/86-C.E., and to state that some Collectors, whie differing with the view communicated in the aforesaid letter, have raised the following .....

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..... fect from 1st April, 1988. Under this notification, the quantum of higher credit available in respect of such inputs carrying a normal basic duty of 10% or more, has now been specified as the effective duty paid under Notification No. 175/86-C.E. plus an amount calculated at the rate of 5% ad valorem. Thus, if any input carries normal basic excise duty @ 15% ad valorem and the effective duty paid .....

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..... ion with the Ministry of Law. A clarification on the points raised by the Collectors will be communicated, as soon as a final decision is taken. Case relating to show cause notices issued in regard to higher notional credit in respect of the special excise duty may be decided only after receipt of this clarification. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax M .....

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