Changes relating to some of the budget proposals. - Reg.

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..... Excise Rules and CENVAT Credit Rules w.e.f. 1st April, 2003. The salient features of these changes are indicated below :- (1) The exemption notifications No. 8/2003-C.E. and 9/2003-C.E. have been amended so as to - (a) exclude terry towels under Chapter 63 from the SSI exemptions scheme; (b) provide that for determining the first clearance of Rs. 1 crore, clearances of exempted goods shall not .....

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..... as inputs contained in finished goods lying in stock on 31-3-2003 will be allowed if the declaration is made on or before 7th April, 2003. The rates at which the credit would be allowed will be separately notified shortly. (d) Notification No. 35/2001-C.E. (N.T.) has been amended to provide that in respect of a manufacturer or trader for goods falling under Chapters 50 to 63, single registration .....

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