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Excise Duty on Steel Formers consumed captively in Induction Furnace - regarding.
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....ise Duty on "Steel Formers" consumed captively in the Induction Furnaces. "Steel formers" are hollow cylindrical profiles. They are placed inside the crucible of the Induction Furnace. The space between the crucible and the former is packed with ramming mass (mixture of Sodium Silicate & Boric Acid) and asbestos sheets. Then the hollow portion inside the former is charged with scrap iron, sponge i....
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....CE dated 16.3.95 was amended by Notification No.59/97-CE dated 30.8.97 so as to exclude ingots and billets (final products) falling under sub headings 7206.90 and 7207.90 from the coverage of the captive consumption notification. In other words, any "input" manufactured inside a factory working under the compounded levy scheme, and consumed captively in the manufacture of ingots and billets, would....