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<h1>India's Finance Ministry Issues Circular on Deemed Credit for Steel Sheets Under 5mm; Rs. 500/Tonne Credit Available.</h1> The Government of India, through the Ministry of Finance, has issued a circular regarding deemed credit for steel sheets not exceeding 5 mm in thickness. Manufacturers of specified final products, as per Notification No. 177/86-C.E., can claim deemed credit at Rs. 500 per tonne for steel sheets purchased on or after June 1, 1986, without needing proof of duty payment. However, credit is disallowed if duty credit has already been claimed, if inputs are non-duty paid, or if reduced duty is claimed under Notification No. 55/86-C.E. for inputs manufactured using an electric furnace with evidence of reduced duty payment.