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of <h1>New Rule Sets Rs. 18/Kg Deemed Cenvat Credit for Processed Fabrics; Excludes Fraudulent or Clandestine Removals</h1> The notification, effective from July 1, 2001, establishes the rate of deemed Cenvat credit for processed fabrics, cotton or man-made fibre fabrics, and woven pile fabrics. The Central Government, under rule 11 of the CENVAT Credit Rules, 2001, specifies that a duty of Rs. 18 per kg is deemed paid on declared inputs, allowing manufacturers to claim credit without presenting duty payment documents. This credit can be used for excise duty on final products, with provisions for export adjustments and restrictions on refunds if drawbacks or rebates are claimed. The notification excludes products removed clandestinely or involving fraud.
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