Inclusion of non-alloy steel inputs expands Modvat coverage to ingots, billets and hot re-rolled products under excise-paid conditions. The notification amends the Table to Notification No. 5/94 by adding two entries for non-alloy steel: (v) ingots and billets classifiable under specified tariff headings, and (vi) hot re-rolled products classifiable under specified tariff headings, in both column (2) and column (3); both categories apply where excise duty has been paid under section 3A, thereby including these steel items within the Modvat provisions of the notification.
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Inclusion of non-alloy steel inputs expands Modvat coverage to ingots, billets and hot re-rolled products under excise-paid conditions.
The notification amends the Table to Notification No. 5/94 by adding two entries for non-alloy steel: (v) ingots and billets classifiable under specified tariff headings, and (vi) hot re-rolled products classifiable under specified tariff headings, in both column (2) and column (3); both categories apply where excise duty has been paid under section 3A, thereby including these steel items within the Modvat provisions of the notification.
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