Notification No.35/2003, Dated 10th April, 2003

10th April, 2003

Notification No. 35/2003 - Central Excise (N.T.)

In exercise of the powers conferred by sub-rule (3) of rule 9A of the Central Excise Rules, 2002, the Central Government, hereby declares, for the purposes of the said rule, the amount of credit of duty, as specified in column (3) of the table below, on inputs lying in stock or in process or on inputs contained in finished goods lying in stock, as specified in the corresponding entry in column (2) of the said Table, namely:-

TABLE

S. No.	Description	Amount of credit
(1)	(2)	(3)
1	Input lying in stock or in process, namely,- (a) Texturised yarn lying in stock in a composite mill; (b) Yarn other than (a) above; (c) Fabrics (unprocessed or processed)	Rs 18 per Kg of texturised yarn multiplied by quantity in Kg of such texturised yarn Deemed value multiplied by the rate of duty on such yarn Deemed value multiplied by the rate of duty on such fabrics
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	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

Explanation 1.- For the purposes of this notification, “ Deemed value” shall be calculated in the following manner:

Deemed value= Declared value multiplied by 95

[ 100 + rate of duty] ;

Explanation 2.- For the purposes of this notification, “rate of duty” shall mean the rate of duty leviable under the Central Excise Tariff Act, 1985 (5 of 1986), the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) and Additional Duties of Excise (Textile and Textile Articles) Act, 1978 (40 of 1978), as the case may be, read with any notification, as on the 1^st day of April, 2003;

Explanation 3.- For the purposes of this notification, “ composite mill” means a manufacturer who 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 within the same factory and includes a multi-locational composite mill, i.e., 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.

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

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.