Ntf.No. 69/2003-CE(NT) to 73/2003-CE(NT) - changes in rule 4 of CENVAT Credit Rules, 2002- Cir. No.747/63/2003-CX Dt.22/09/2003

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.... I am directed to refer to Notification No. 70/2003-CE(NT) dated 15.9.2003 vide which inter alia, clause (b) of sub-rule 2 of Rule 4 of CENVAT Credit Rules, 2002 was amended to substitute the words 'refractories and refractory materials, moulds and dies' in place of ' refractories and refractory materials' . Subsequently, Board has issued a circular No. 747/63/2003-CX dated 22nd September, 2003....

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....aking of balance of 50% CENVAT credit in a financial year if the capital goods are in possession and use of the manufacturer of final products in such financial year subsequent to the year of acquisition. It was represented that this condition of 'possession and use' could not be satisfied at times in respect of mould and dies. The representations were considered and sub-rule (2)(b) of rule 4 of C....