Notification No. 34/2003, Dated 10th April, 2003

10th April, 2003

Notification No. 34 /2003 - Central Excise (N.T.)

In exercise of the powers conferred by section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2002, namely:-

1. (1)		These rules may be called the CENVAT Credit (Seventh 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)		in rule 3, after sub-rule (4), the following shall be inserted, namely,- “(4A) Notwithstanding any thing contained in these rules,-
	(a)	a first or second stage dealer, dealing exclusively in goods falling under Chapter 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62 or 63 of the First Schedule to the Tariff Act, may, at his option, remove such goods, whether or not after undertaking activities such as packing, repacking, on payment of an amount equal to the duty of excise, which is leviable on such goods at the rate applicable on the date of removal and on the value determined for such goods under sub-section (2) of section 3 or section 4 of the Act, as the case may be. The provisions of the Central Excise Rules, 2002, in so far they relate to removal of goods on invoice, maintenance of accounts, filing of return, manner of payment or failure to pay such amount shall apply, as if such amount is a duty of excise liable to be paid by an assessee: Provided that such option once exercised by the said dealer, shall not be withdrawn during the remaining part of the financial year;
	(b)	the first or second stage dealer of goods referred to in clause (a), who avails of the option referred to in said clause, may take credit of duties referred to in sub-rule (1) of Rule 3, paid on such goods for utilizing the same for payment of such amount, as referred to in clause (a);
	(c)	the amount paid under clause (a) shall be eligible as CENVAT credit as if it were a duty paid by a person who removes such goods under sub-rule (4A).”
(ii)		in rule 9A,-
	(A)	in sub-rule (1), for the words and figures “A manufacturer, producer, first stage dealer or second stage dealer of yarn and unprocessed fabrics falling under Chapter 50, 51, 52, 53, 54, 55, 58, 59 or 60 of the First Schedule to the Tariff Act or a manufacturer of processed fabrics falling under Chapter 50, 51, 52, 53, 54, 55, 58, 59 or 60 of the First Schedule to the Tariff Act”, the words and figures “A manufacturer, producer, first stage dealer or second stage dealer of yarn or fabrics falling under Chapter 50, 51, 52, 53, 54, 55, 58, 59 or 60 of the First Schedule to the Tariff Act” shall be substituted;
	(B)	in sub-rule (4), for the figures and words “7^th Day of April, 2003”, the figures and words “15^th day of April, 2003” shall be substituted.

F.No. B3/4/2003-TRU (Pt-1)

Alok Shukla

Deputy Secretary to the Government of India

Frequently Asked Questions

What are Central Excise notifications?

Central Excise notifications are official announcements issued by the Government of India to communicate changes, updates, or clarifications related to central excise laws and procedures.

They may include amendments to duty rates, exemptions, procedural changes, or new compliance requirements, helping manufacturers and traders stay informed and compliant.

Why are Central Excise notifications important for businesses?

Central Excise notifications are important because they tell businesses about current regulations, duty changes, and compliance obligations.

These updates help manufacturers, importers, and tax professionals adjust their processes, prepare accurate returns, and avoid penalties for non-compliance with excise laws.

How often are Central Excise notifications released?

Central Excise notifications are released as and when the Government introduces changes to tax laws, exemptions, or procedures.

These may be issued periodically or in response to budget announcements, policy reforms, or judicial interpretations that require clarification or regulatory updates.

How can I access the latest Central Excise notifications?

The most reliable sources for the latest Central Excise notifications are official government portals such as the Central Board of Indirect Taxes and Customs (CBIC).

Seair Exim Solutions also consolidates and summarises important notifications to make it easier for businesses to track updates relevant to their operations.

Do Central Excise notifications affect past tax liabilities?

Yes, Central Excise notifications can affect past tax liabilities if they include retrospective amendments, clarifications, or transitional provisions.

Such notifications may have an earlier impact. assessments, compliance positions, or legal interpretations and should be reviewed carefully to ensure proper handling of legacy accounts.