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<h1>Deemed Cenvat Credit Rate Set for Processed Textile Fabrics; One Rupee Per Square Meter Under Chapter 59</h1> The notification establishes the rate of deemed Cenvat credit for goods under Chapter 59 of the First Schedule of the Central Excise Tariff Act, 1985. It specifies that processed textile fabrics under Chapters 52, 54, or 55, and certain other headings, are eligible for deemed duty credit of one rupee per square meter. This credit can only be used to pay excise duty on final products and cannot be refunded. The provisions apply to inputs received directly from manufacturers with appropriate duty paid, effective from July 1, 2001. This notification was later rescinded by Notification No. 10/2002 CE(NT).