Input credit restrictions revised: permitted removal and utilisation allow credit-adjusted duty payment for inputs and similar final products. Amendments narrow the scope of 'in the manufacture of a final product' exclusions for clearances to Free Trade Zones and Export Oriented Units in rules 57C and the proviso to 57D, and add to rule 57F: (1A) permitting removal of inputs for home consumption, with Collector permission and payment of excise duty equivalent to previously availed credit where credit was restricted under the proviso to rule 57A; and an added proviso permitting utilisation of specified duty credit on inputs used in final products cleared to FTZs or EOUs under bond towards duty on similar final products cleared for home consumption on payment of duty.
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Provisions expressly mentioned in the judgment/order text.
Input credit restrictions revised: permitted removal and utilisation allow credit-adjusted duty payment for inputs and similar final products.
Amendments narrow the scope of "in the manufacture of a final product" exclusions for clearances to Free Trade Zones and Export Oriented Units in rules 57C and the proviso to 57D, and add to rule 57F: (1A) permitting removal of inputs for home consumption, with Collector permission and payment of excise duty equivalent to previously availed credit where credit was restricted under the proviso to rule 57A; and an added proviso permitting utilisation of specified duty credit on inputs used in final products cleared to FTZs or EOUs under bond towards duty on similar final products cleared for home consumption on payment of duty.
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