15th September, 2003

Notification No. 70/2003 - Central Excise (N.T)

            In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2002 (hereinafter referred to as the said rules), namely:-

1.       (i)      These rules may be called the CENVAT Credit (Eighteenth Amendment) Rules, 2003.

3.         (ii)      They shall come into force on the first day of October, 2003.  

2.          In rule 3 of the said rules, for sub-clause ( i ) of clause (a) of sub-rule (6), the following shall be substituted, namely:-  

“( i )         by a hundred per cent. export-oriented undertaking or by a unit in an Electronic Hardware Technology Park or in a Software Technology Park [other than a unit which pays excise duty levied under section3 of the Act read with serial numbers 3,5, 6 and 7 of notification No. 23/2003-Central Excise, dated the 31st March, 2003, {G.S.R. 266(E), dated the 31st March, 2003}]and used in the manufacture of the final products in any other place in India, in case the unit pays excise duty under section 3 of the Act read with serial number 2 of the notification No. 23/2003-Central Excise, dated the 31st March, 2003, [G.S.R. 266(E), dated the 31st March, 2003], shall be admissible equivalent to the amount calculated in the following manner, namely:-

Fifty per cent. of [X multiplied by {(1+BCD/100) multiplied by (CVD/100)}], where BCD and CVD denote ad valorem rates, in per cent., of basic customs duty and additional duty of customs leviable on the inputs or the capital goods respectively and X denotes the assessable value.”.  

3.      In clause (b) of sub-rule (2) of rule 4 of the said rules, for the words “ refractories and refractory materials”, the words “ refractories and refractory materials, moulds and dies” shall be substituted.  

4.       In rule 7 of the said rules,

(a)         for sub-rule (5) and the Explanation relating thereto, the following sub-rule shall be substituted , namely,-

                  “(5)        The manufacturer of final products shall submit within ten days from the close of each month to the Superintendent of Central Excise, a monthly return in the form specified, by notification, by the Board:

                              Provided that where a manufacturer is availing exemption under a notification based on the value or quantity of clearances in a financial year, he shall file a quarterly return in the form specified by notification by the Board within twenty days after the close of the quarter to which the return relates.”. 

(b)       for sub-rule (6), the following sub-rule shall be substituted, namely:- 

“(6)      A first stage or a second stage dealer, as the case may be, shall submit within fifteen days from the close of each quarter of a year to the Superintendent of Central Excise, a return in the form specified by notification by the Board.”. 

5.       Form-1 and Form-2 annexed to the said rules shall be omitted.

Vijay Mohan Jain
Under Secretary to the Government of India 

F.No.201/6/2002-CX.6 (pt-2)

Note: The principal rules were published in the Gazette of India vide notification No. 5/2002-CE (NT), dated the 1st March, 2002[G.S.R. 144 (E) dated the 1st March, 2002] and were last amended vide notification No.65/2003-CE (NT), dated the 9th September, 2003[G.S.R. 719 (E) dated the 9th September , 2003].