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TMI BlogSeeks to prescribe rate of deemed credit in respect of independent textile processors and composite mills.X X X X Extracts X X X X X X X X Extracts X X X X ..... 01 , published in the Gazette of India vide number G.S.R. 497 (E), dated the 29th June, 2001, except as respects things done or omitted to have been done before such supersession, the Central Government, hereby declares the following inputs (hereinafter referred to as the "declared inputs") and final products falling within the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) (hereinafter referred to as the said First Schedule), as specified in the Table below, namely:- TABLE S.No. Inputs Final products (1) (2) (3) (1) Goods falling within heading No. 51.05, 51.06, 51.07, 52.05, 52.06, 53.06, 53.07, 53.08, 54.02, 54.03, 54.04, 54.05, 55.01, 55.02, 55.0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d First Schedule. (3) Goods falling within heading No. 52.05 or 52.06 of the said First Schedule The following goods manufactured by a manufacturer other than a composite mill, namely:- (a) Gauze falling under heading No. 58.03 of the said First Schedule; (b) Book binding cloth falling under sub-heading No. 5901.10 of the said First Schedule. 2. The Central Government further declares that, - (i) the duty of excise under the Central Excise Act, 1944 (1 of 1944); (ii) the additional duty under section 3 of the Customs Tariff Act, 1975 (51 of 1975); or (iii) the additional duty of excise under section 3 of the Additional Duties of Excise (Textiles and Textile Articles) Act, 1978 (40 of 1978), (hereinafte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e leviable under the Central Excise Act, 1944 and the additional duty of excise leviable under the Additional Duties of Excise (Goods of Special Importance) Act, 1957 read with any notification for the time being in force, on the final products other than those specified in sub-clause (a), and credit of the declared duty so deemed to have been paid shall be allowed to the manufacturer of the final products, without production of documents evidencing payment of duty on the declared inputs, at the time of clearance of the said final products. 3. The credit of declared duty allowed in respect of the declared inputs shall be utilized towards payment of duty of excise or the additional duty of excise leviable under the said Central Excise Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of this notification shall not apply in respect of the said final products manufactured by a manufacturer other than a composite mill from such consignments of unprocessed fabrics in respect of which credit under rule 3 of the CENVAT Credit Rules, 2002, has been availed.] 5. In respect of a composite mill, the provisions of this notification shall apply only to processed fabrics manufactured from unprocessed fabrics not woven in the same composite mill, subject to the condition that no credit, under rule 3 of the CENVAT Credit Rules, 2002, in respect of the said unprocessed fabrics is availed of by that composite mill. Explanation. - It is clarified that the CENVAT credit in respect of capital goods, under rule 3 of the CENVAT Credit R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osite mill, i.e., a public limited company which is engaged in the processing of fabrics with the aid of power along with the spinning of yarn from fibres and weaving or knitting or crocheting of fabrics in one or more factories owned by the same public limited company. Explanation 3.- For the removal of doubt it is clarified that the provisions of this notification shall not apply where processed fabric itself is used as an input for further processing. 2 [Omitted] Explanation 4.- For the removal of doubt it is clarified that the provisions of paragraph 4 shall not apply to a manufacturer who avails of any credit, under rule 3 of the CENVAT Credit Rules, 2002, in respect of the declared inputs where the said declared inputs are ..... X X X X Extracts X X X X X X X X Extracts X X X X
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