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Notification No. 58 dated 30th August 1997 (As amended by 2/98)
In exercise of the powers
conferred by sub-rule (6) of rule 57A of the Central Excise Rules, 1944, the
Central Government, hereby declares the following inputs and the final products
falling within the Schedule to the Central Excise Tariff Act, 1985 (5 of 1986),
namely:-
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Sl. No.
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Inputs
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Final products
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(1)
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(2)
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(3)
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1.
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Hot re-rolled products of
non-alloy steel falling under sub-heading Nos. 7211.11, 7211.19, 7211.30,
7211.52, 7211.59, 7211.60, 7211.92, 7211.99, 7213.90, 7214.90, 7215.90, 7216.10
and 7216.90 of the said Schedule and on which duty of excise has been paid under
section 3A of the Central Excise Act, 1944(1 of 1944).
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All goods falling within the
said Schedule.
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2. The Central Government
further declares that the duty of excise under the Central Excise Act, 1944 (1
of 1944) (hereinafter referred to as said Act), shall be deemed to have been
paid (hereinafter referred to as deemed duty), on the inputs declared herein and
the same shall be equivalent to the amount calculated at the rate of twelve
percent of the price, as declared by the manufacturer, in the invoice
accompanying the said inputs (hereinafter referred to as invoice price), and
credit of the deemed duty so determined shall be allowed to the manufacturer of
the final products.
3. The credit of deemed
duty allowed in respect of the said inputs shall be utilised only towards
payment of duty of excise leviable under the said Central Excise Act on the Said
Final Products:
Provided that the credit of
deemed duty in respect of inputs cleared for export under bond shall be allowed
to be utilised towards payment of duty of excise on any final products cleared
for home consumption or for export on payment of duty and where for any reason,
such adjustment is not possible, by refund to the manufacturer subject to such
safeguards, conditions and limitations as may be specified by the Central
Government in the Official Gazette.
Provided further that no such
refund of credit of deemed duty shall be allowed if the manufacturer avails of
drawback allowed under the Customs and Central Excise Duties (Drawback) Rules,
1971 or claims rebate of duty under rule 12, in respect of such duty.
4. The provisions, of this
notification shall apply to only those inputs which have been received directly
by the manufacturer of the final products from the factory of the manufacturer
of the said inputs under the cover of an invoice declaring that the appropriate
duty of excise has been paid on such inputs under the provisions of section 3A
of the said Act.
5. The provisions of this
notification shall not apply to inputs where the manufacturer of the said inputs
has not declared the invoice price of the said inputs correctly in the documents
issued at the time of their clearance from his factory.
6. This notification shall
come into effect on and from the 1st day of September, 1997.
Explanation: For the purpose of
this notification, �invoice price� means the price charged by the
manufacturer of inputs and indicated in the invoice accompanying the said
inputs, the payment for which is made directly by the manufacturer of the final
products to the manufacturer of the said inputs by cheque drawn on his own bank
account or by bank draft or by bankers cheque.
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