Proforma credit extension allows input duty credit for petroleum jelly and waxes by aligning finished goods with input tariff headings. The notification specifies that credit of excise or additional customs duty already paid on raw materials or component parts shall be allowed as input credit for designated finished excisable goods, naming petroleum jelly and all sorts of waxes and aligning each finished product with the corresponding tariff headings of materials and finished goods to enable claim of proforma credit under the empowering rule.
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Provisions expressly mentioned in the judgment/order text.
Proforma credit extension allows input duty credit for petroleum jelly and waxes by aligning finished goods with input tariff headings.
The notification specifies that credit of excise or additional customs duty already paid on raw materials or component parts shall be allowed as input credit for designated finished excisable goods, naming petroleum jelly and all sorts of waxes and aligning each finished product with the corresponding tariff headings of materials and finished goods to enable claim of proforma credit under the empowering rule.
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