Admissibility of money credit under Rule 57K read with Notifn. No. 231/87, dated 1-10-1987 in respect of ethyl alcohol used in the manufacture of specified goods - Regarding
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Money credit admissibility clarified for intra-factory use of ethyl alcohol; credit allowed where excise duty on molasses was paid. Money credit under Rule 57K should be allowed where a unit manufactures molasses, then alcohol, then specified chemicals within the same factory, ... Summary
Money credit admissibility clarified for intra-factory use of ethyl alcohol; credit allowed where excise duty on molasses was paid.
Money credit under Rule 57K should be allowed where a unit manufactures molasses, then alcohol, then specified chemicals within the same factory, notwithstanding the literal wording of condition (ii) and its proviso to Notification No. 231/87, if on verification it is established that excise duty on molasses was paid at the increased rates; the Notification has been amended prospectively to remove the anomaly and pending cases are to be decided accordingly.
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