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<h1>Deemed duty credit for steel inputs permits manufacturers to claim input-duty credit against excise on final products.</h1> Credit of deemed excise duty is allowed on specified hot re-rolled non-alloy steel inputs where duty has been paid and declared on the supplier's invoice; deemed duty is calculated as a percentage of the invoice price and may be utilised only towards excise on the final products. The benefit applies only when inputs are received directly from the input manufacturer under a duty-declaring invoice and is void if the invoice price is incorrectly declared; refunds where adjustment is impracticable are subject to safeguards, and refunds are barred if drawback or rebate has been claimed.
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