Finance Act, 2003 Schedule VI

S. No

Provisions of the Central Excise Rules, 1944 to be amended

Amendment

Date of effect of amendment

(1)

(2)

(3)

(4)

1.

Sub-rule (5) of rule 57R of the Central Excise Rules, 1944 as substituted by notification No. G.S.R.324(E), dated the 23rd July, 1996 [14/96-Central Excise (N.T.), dated the 23rd July, 1996]

In the Central Excise Rules, 1944, in rule 57R, for sub-rule (5), the following sub-rule shall be substituted, namely: --

"(5) Credit of specified duty in respect of capital goods shall not be allowed in respect of that part of the value of capital goods which represents the amount of duty on such capital goods, which the manufacturer claims as depreciation under section 32 of the Income-tax Act, 1961 (43 of 1961).".

23rd day of July, 1996.

2.

Sub-rule (8) of rule 57R of the Central Excise Rules, 1944 as inserted by notification No. G.S.R. 122(E), dated the 1st March, 1997 [6/97-Central Excise (N.T.), dated the 1st March, 1997]

In the Central Excise Rules, 1944, in rule 57R, for sub-rule (5), the following sub-rule shall be substituted, namely: --

"(8) Credit of specified duty in respect of capital goods shall not be allowed in respect of that part of the value of capital goods which represents the amount of duty on such capital goods, which the manufacturer claims as depreciation under section 32 of the Income-tax Act, 1961 (43 of 1961).".

1st day of March, 1997.

3.

Sub-rule (12) of rule 57F of the Central Excise Rules,; 1944 as substituted by notification No.G.S.R. 122(E), dated the 1st March, 1997 [6/97-Central Excise (N.T.), dated the 1st March, 1997]

In the Central Excise Rules, 1944, in rule 57F, in sub-rule (12), the following proviso shall be inserted, namely: --

"Provided that the credit of specified duty paid on the inputs used in the manufacture of final products cleared after availing of the exemption under the notification numbers 32/99-Central Excise, dated the 8th July, 1999 [G.S.R. 508 (E), dated the 8th July, 1999] and 33/99-Central Excise, dated the 8th July, 1999 [G.S.R. 509 (E), dated the 8th July, 1999], shall be utilised only for payment of duty on final products cleared after availing of the exemption under the said notification numbers 32/99-Central Excise, dated the 8th July, 1999 and 33/99-Central Excise, dated the 8th July, 1999.".

8th day of July, 1999.

4.

Clause (b) of sub-rule (1) of rule 57AB of the Central Excise Rules, 1944 as substituted by notification No. G.S.R. 203(E), dated the 1^stMarch, 2000 [11/ 2000-Central Excise (N.T.), dated the 1^stMarch, 2000]

In the Central Excise Rules, 1944, in rule 57AB, in sub-rule (1), in clause (b), before the Explanation, the following proviso shall be inserted, namely: --

"Provided that the CENVAT credit of the duty paid on the inputs used in the manufacture of final products cleared after availing of the exemption under the notification numbers 32/99-Central Excise, dated the 8th July, 1999 [G.S.R. 508 (E), dated the 8th July, 1999] and 33/99-Central Excise, dated the 8th July, 1999 [G.S.R. 509 (E), dated the 8th July, 1999], shall be utilised only for payment of duty on final products cleared after availing of the exemption under the said notification numbers 32/99-Central Excise, dated the 8th July, 1999 and 33/99-Central Excise, dated the 8th July, 1999.".

1st day of April, 2000.