Modvat - SSI - Power to grant notional credit in respect of SED

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....ted to this Ministry's letter of even number, dated the 18th March, 1988, regarding the power to grant notional credit in respect of special excise duty under Rule 57B of the Central Excise Rules read with Notification No. 175/86-C.E., and to state that some Collectors, whie differing with the view communicated in the aforesaid letter, have raised the following points : (i) The benefit of higher ....

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....otification, the quantum of higher credit available in respect of such inputs carrying a normal basic duty of 10% or more, has now been specified as the effective duty paid under Notification No. 175/86-C.E. plus an amount calculated at the rate of 5% ad valorem. Thus, if any input carries normal basic excise duty @ 15% ad valorem and the effective duty paid on such input manufactured in the small....