|
Trade Notice No. 57/2003 |
Dated: |
09.4.03 |
Sub: Central Excise - Changes made in the law relating to
Textile sector - declaration of stock as on 31st March
2003 for CENVAT Credit purposes - extension of time
- announced,
***
Trade
and Industry in the Textile Sector are aware that a manufacturer, producer,
first stage dealer or second stage dealer of yarn and fabrics is entitled to
avail credit equal to the duty paid on inputs lying in stock or inputs in
process or inputs contained in finished products lying in stock as on 31st
day of March 2003 upon making a written declaration. Initially the last date
for filing the declaration was Notified as
7th April 2003 . Now, the last date for filing the
declaration has been further
extended upto 15th April 2003 .
2.
Only those persons who are registered or likely to register with the
Central Excise Department are eligible to avail of credit on the stock held on
31.3.2003 and declared on or before 15.4.2003.
In case the declared stock as on 31.3.2003, is kept in a place other than the registered/to be registered premises,
the address of the said premise or premises
where such stock is kept is to be declared in the stock declaration in
order to avail the credit.
3)
The
declaration is to contain details as to description, quantity and value of the
stock of inputs (whether lying in stock or in process or contained in the
finished products lying in stock).
4) The
credit on such declared stock can be availed subject to availability of
document evidencing actual payment of duty.
Where a person is unable to produce the document evidencing actual
payment of duty he will be entitled to avail the credit upon making a separate
written declaration excluding the stock for which documents evidencing actual
payment of duty is available.
5 ) In
respect of yarn lying in stock,
the quantum of credit eligible in respect of stock for which
document evidencing payment of duty is not there the same will be
notified by the Government later.
6 ) In
respect of Fabrics lying in stock, the credit will be allowed as per the
Notification 54/2001 Central Excise, or as the case may be under
Notification No.6/2002 Central Excise (Non-Tariff)
depending upon the value and
quantity.
7)
In the case of processed fabrics , only the stock lying with a
manufacturer would be entitled for such credit.
For unprocessed fabrics and yarns, the credit would be available both
for manufacturers/ job workers, and also for traders who get registered.
8) The
Trade and Industry are requested to come forward to register with the
Department so as to avail the benefit of credit on inputs.
Persons in the areas of Tambaram, Vellore, Ranipet, Arakonam,
Gudiyatham, Tiruthani, Krishnagiri and Hosur can register themselves at the
Office of the Commissioner of Central Excise, Chennai III, 121 Uthamar Gandhi
Salai, Nungambakkam, Chennai 34. Alternatively if any person want to get
registered in the Divisional Office concerned for the reason that it
would not be convenient for him/them to do so they can get
himself/themselves registered at
the Divisional Office concerned namely Vellore, Ranipet, Tambaram and
Hosur.The application forms for registration are available free of cost and
there is no fee for registration. Associations concerned are requested to help
those persons who have to get registered to fill up the application forms and
file the same with the Department so that individual members of the Trade need
not have the trouble of seeking registration in person.
Co-operation of the Associations is solicited in this regard.
9)
The contents of this Trade Notice may be brought to the notice of all
concerned
for information and necessary action.
(Issued from
File C.No.IV/16/2/03 Cx.Pol)
(Authority:…
i)F.No.B3/3/2003 TRU
ii) Notification 28/2003 CE NT dated 1.4.03
iii) Fax B3/3/2003 TRU dated 28.3.03
iv) B3/1/2003 TRU dated 25.3.03)
Sd/-
(K.S.NAIR)
COMMISSIONER
/ATTESTED/
Sd/-
(N.UMASHANTHI)
SUPERINTENDENT
(TECH)
To
As per Mailing list
(Both Department & Trade)