Amendment to Notification no. 42/2001-CE (NT) dated 26.06.2001-reg.

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....missioners of Central Excise (including LTU). Sir/ Madam, Subject: Amendment to Notification no. 42/2001-CE (NT) dated 26.06.2001-reg. It has been brought to the notice of the Board that some of the manufacturers of exempted goods are exporting such goods under bond. Subsequently, they claim refund of accumulated input credit under Rule 5 of the CENVAT Credit Rules, 2004. The department had ob....

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....led procedure requiring verification of details like manufacturing process, input-output ratio, wastages etc., by the departmental officer is prescribed. The reason for the same is that in case of exempted goods, the department does not exercise control. It appears that the exporters are exporting the exempted goods under bond to avoid detailed verification and scrutiny by the department for claim....