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of <h1>Excise Duty Imposed on Transformed Plastic Films; Modvat Scheme Benefits Available for Manufacturers Under Chapter 39.</h1> The circular addresses the assessment of lacquered, laminated, or metallised plastic films under the Central Excise Tariff. It clarifies that transforming bare films into these products creates a new item subject to excise duty, despite the same tariff classification. The circular references past advice and legal opinions, noting that prior exemptions have been withdrawn as of March 1, 1986. Recent legal decisions support this view, confirming that such films are liable for duty. However, under Chapter 39, manufacturers can benefit from the Modvat Scheme, allowing credit for duty paid on bare films against the duty on the finished products.
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