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    <title>Seeks to rescind the notification prescribing rate of deemed credit in respect of textile fabrics falling under Chapter 59 of the Central Excise Tariff</title>
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    <description>The Central Government, invoking rule 11 of the CENVAT Credit Rules, 2002, rescinds Notification No. 55/2001-Central Excise (N.T.) dated 29th June 2001 insofar as it prescribed the rate of deemed CENVAT credit for textile fabrics under the relevant tariff classification, the action being taken as necessary in the public interest.</description>
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      <description>The Central Government, invoking rule 11 of the CENVAT Credit Rules, 2002, rescinds Notification No. 55/2001-Central Excise (N.T.) dated 29th June 2001 insofar as it prescribed the rate of deemed CENVAT credit for textile fabrics under the relevant tariff classification, the action being taken as necessary in the public interest.</description>
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