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of <h1>Finance Bill 2010: Rule 57CCC mandates credit reversal for exempted product inputs with 24% interest on disputes.</h1> The Fourth Schedule of the Finance Bill, 2010, amends the Central Excise Rules, 1944, by inserting and substituting Rule 57CCC. This rule addresses the reversal of actual credit for manufacturers involved in disputes over credit adjustments on inputs used for exempted final products. For disputes from September 1, 1996, to February 28, 1997, and March 1, 1997, to March 31, 2000, manufacturers must pay the credit amount attributable to inputs for non-chargeable or nil duty products, with an interest of 24% per annum from the clearance date until payment.
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