This notification fixes the rate of deemed Cenvat credit in case of goods falling under Chapters 51 to 60 of the First Schedule to the Central Excise Tariff Act, 1985 - 053/2001 - Central Excise - Non Tariff

Deemed CENVAT credit for textile inputs set; fixed credit allowed at clearance with limited utilisation and exclusions.

The notification declares specified textile inputs and corresponding final products as declared inputs for deemed CENVAT credit, prescribes fixed deemed credit rates differing between composite mills and other manufacturers, deems duty to have been paid on such inputs and allows credit at clearance without production of duty payment documents, restricts utilisation of credit to payment of excise duties on the final products with limited refund provisions, and sets exclusions including manufacturers availing regular CENVAT credit, special procedure payers, and cases involving fraud or short levy.