Modvat - Amendment to Notification Nos. 5/94-C.E. (N.T.), 24/94-C.E. (N.T.) and 29/96-C.E. (N.T.)

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....e of the powers conferred by rule 57A of the Central Excise Rules, 1944, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notification of the Government of India in the Ministry of Finance (Department of Revenue) specified in column (2) of the Table hereto annexed, shall be amended or further amended, as the case may be, ....

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....inputs.     Explanation. - For the purposes of this clause, - (a) `multi-locational composite mill' means a public limited company which is engaged in the processing of fabrics with the aid of power along with the spinning of yarn from fibres and weaving or knitting or crocheting of fabrics in one or more factories owned by the same public limited company; and   &n....

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....r factory belonging to the same multi-locational composite mill for manufacture of final products shall be allowed to the extent of the duty paid on such inputs.     Explanation. - For the purposes of this proviso, 'multi-locational composite mill' means a public limited company which is engaged in the processing of fabrics with the aid of power along with the spinning of yarn f....

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....herein,     (b) 60% of the duty of excise leviable under the Central Excise Act, 1944 (1 of 1944), read with any notification for the time being in force, on the final products other than those specified in sub-clause (a),     at the time of clearance of -     (i) final products lying in stock in the processing factory of a multi-locational ....