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of <h1>New Excise Notification Limits Deemed Credit for Primary Metals and Non-Ferrous Scrap; Supersedes April 1987 Order.</h1> Notification No. 246/87-Central Excise, issued on 2nd November 1987, supersedes the previous order dated 7th April 1987. This new order restricts the deemed credit facility to primary metals and waste and scrap of non-ferrous metals. The exemption is limited to waste and scrap for which input credit has not been taken or has been debited back. For primary metals, deemed credit applies to stock held by manufacturers from 1st March 1986 onwards. For waste and scrap of non-ferrous metals, the deemed credit is applicable to stock held from 2nd November 1987 onwards.
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