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of <h1>Amendment to Notification No. 06/2002-CE(N.T.): Deemed Credit Rate Adjustments for Textile Manufacturers Clarified</h1> Notification No. 06/2002-CE(N.T.), dated March 1, 2002, concerning the rate of deemed credit for independent textile processors and composite mills, has been amended. The amendments specify that manufacturers other than composite mills can calculate deemed credit at 50% of the excise duty on cotton products processed without power or steam. The notification excludes unprocessed fabrics and clarifies that manufacturers without facilities for power-based processes cannot claim CENVAT credit. Additional explanations define terms like 'open-air stenter' and restrict credit claims for certain materials used in manufacturing. These changes aim to regulate credit claims and processing conditions for textile manufacturers.
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