Notification No. 47/2003 - Central Excise (N.T.)

In exercise of the powers conferred by sub-rule (3) of rule 9A of the CENVAT Credit Rules, 2002, the Central Government hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 35/2003-Central Excise (NT), dated the 10^th April, 2003, namely:-

In the said notification, in the Table, for S. No.2 and the entries relating thereto, the following shall be substituted, namely:-

(1)

(2)

(3)

“2

finished goods lying in stock, namely,-

(a) Unprocessed fabrics of cotton not containing any other textile material;

(b) Unprocessed fabrics other than (a) above;

(c) Yarns, which were eligible for exemption, as on 31^st March, 2003, from the whole of the excise duty under notification No. 6/2002-Central Excise, dated the 1^st March, 2002 (other than the shoddy yarn purchased or procured from outside the factory, and subjected to any process);

(d) Article of apparel and clothing accessories falling under Chapter 61

Declared value multiplied by 26% of the rate of duty on such unprocessed fabrics

Declared value multiplied by 60% of the rate of duty on such unprocessed fabrics

Deemed value multiplied by the rate of duty on such yarn

Declared value multiplied by 12% of the rate of duty on such article of apparel and clothing accessories”.

Footnote.- The notification No. 35/2003-Central Excise (N.T.), dated the 10^th April, 2003 was published in the Gazette of India, vide number G.S.R. 336 (E), dated the 10^th April, 2003 .