9911796707
TMI BlogCentral Excise (No. 2) Rules, 2001 and other RulesX X X X Extracts X X X X X X X X Extracts X X X X ..... have been widely welcomed, though a few suggestions have been made for necessary correction. 2. The Central Excise Rules, 2001, have now been re-notified as Central Excise (No. 2) Rules, 2001 vide Notification No. 30/2001-Central Excise (N.T.) dated 21-6-2001. The Central Excise Rules, 2001, notified earlier vide Notification No. 9/2001-C.E. (N.T.) dated 1-3-2001 have been rescinded. The new Rules would come into force from 1st July 2001. 3. There is no basic change in the Rules now notified. Only a few amendments have been made, which are indicated below. (i) in the case of readymade garments the parent manufacturer is required to pay the excise duty, unless the job worker is authorized to do so. Accordingly, this dispensation find ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... redit rules. But the goods received must be eventually returned. If for any reason, the goods are not returned then the credit earned and utilized cannot be said to be admissible. In other words, action would have to be taken to recover it. The field officers may exercise scrutiny/checks on this aspect. In case the process of re-making, re-conditioning, etc. results into a new manufacture product, the manufacturer is required to pay excise duty on the value determined under section 4 or section 4A, as the case may be. In other cases, the manufacturer shall pay an amount (not by way of duty) equal to the CENVAT credit taken when the goods are removed from the factory again. It is reported that in some cases it is not possible to know the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rules, 2001. These Rules contemplate that the procurement of goods for end-use under concessional (including fully exempted) rate of duty would be on the basis of a certificate issued by the Assistant Commissioner/Deputy Commissioner. Separate certificate would be necessary for each supplier. It may be noted that the end-user is responsible for discharging the duty liability on the entire quantity of goods originally dispatched to him and no allowance shall be made for loss/destruction in transit. The Bond to be executed for the purposes of the new Rules may be essentially in the same kind of format as was being used under Chapter X procedure. It may be incorporated as a condition in the bond that the recipient shall be liable to pay duty f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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