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

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....otional credit in respect of SED. Reference is invited 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 rai....

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....hich has come into effect from 1st April, 1988. Under this notification, 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....