[TO BE PUBLISHED IN THE GAZETTE OF
INDIA, EXTRAORDINARY, PART-II, SECTION 3,
SUB-SECTION (i)]
SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
Notification
No. 24/2012 - Central Excise (N. T.)
New Delhi, the 19th April, 2012
G.S.R. (E) . -In exercise of the powers conferred
by section 5B of the Central Excise Act, 1944 (1 of 1944), the Central
Government hereby orders that where an assessee has
paid duty of excise on the
process of cutting, slitting and printing of aluminium foils (hereinafter
referred to as final product), falling under heading 7607 of the First Schedule
to the Central Excise Tariff Act, 1985 ( 5 of 1986), the CENVAT credit taken or
utilised, of the duty or tax or cess paid on inputs, capital goods and input
services used in the making of the said final product, shall not be required to
be reversed, notwithstanding that the process of cutting, slitting and printing
of aluminium foils have been held as not amounting to manufacture by the
Central Excise and Service Tax Appellate Tribunal by its order in Appeal No.
3181 of 2010 in the case of M/s Printo India
Graphics (P) Ltd. Vs CCE, Delhi and upheld by the Supreme Court in Civil Appeal
No. 8533 of 2011, subject to the following conditions, namely:-
(a) the said non-reversal shall be allowed
only for the CENVAT credit taken upto the 15th of March, 2012.
(b) the said non-reversal shall be allowed
only when excise duty has been paid on removal of the said final product.
(c) the said assessee shall
not prefer a claim of refund of the excise duty paid by him on the said final
product:
Provided that the CENVAT credit, if
any, taken by the buyer of the said final product, of the excise duty paid by
the said assessee on the said final product made and
cleared up to the 15th March,
2012 shall not be required to be reversed.
[F.No.4/2/2012-CX.1 Pt.]
(Madan Mohan)
Under Secretary to the Government of India.
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