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of <h1>New Notification Sets Deemed Credit Rates for Textile Processors, Outlines Eligible Inputs Under Central Excise Tariff Act 1985</h1> The notification prescribes the rate of deemed credit for independent textile processors and composite mills, superseding a previous notification. It outlines specific inputs and final products eligible for credit under the Central Excise Tariff Act, 1985. The deemed credit rates vary for composite mills and other manufacturers, with specific percentages applied to the duty of excise. It allows manufacturers to claim credit without documentation at the time of product clearance, subject to conditions. The notification excludes certain manufacturers and products from its provisions and clarifies the eligibility criteria and definitions related to composite mills and other manufacturers.
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