Aamend the CENVAT Credit Rules, 2002

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....akes the following rules further to amend the CENVAT Credit Rules, 2002, namely:- 1. (1) These rules may be called the CENVAT Credit (Sixth Amendment) Rules, 2003. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the CENVAT Credit Rules, 2002,- (i) the words and figures "the yarns or fabrics falling under Chapter 50, 51, 52, 53, 54, 55, 58 ....

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....ivities pertaining to manufacture of yarns or fabrics falling under Chapter 50, 51, 52, 53, 54, 55, 58 or 60, readymade garments falling under Chapter 61 or 62 or made up textile articles falling under Chapter 63 of First Schedule to the Tariff Act, which is either fully exempt from duties of excise or are chargeable to "Nil" rate of duty or the said activity not amounting to manufacture, being....

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....ds "shall be calculated on the basis of such rates or in such manner" shall be substituted; (b) in clause (b),- (A) in the opening paragraph beginning, for the words " The credit of duty on inputs contained in fabrics lying in stock", the words " The credit of duty on inputs contained in fabrics or garments lying in stock" shall be substituted; (B) in sub-clause (ii), for the words and fi....