Trade Notice - 09/2003

Subject: Simplified Central Excise procedures for textile
                sector notified on 10.04.2003.

Trade is hereby informed that the following further changes have been made in the Central Excise Rules,2003 and the CENVAT Credit Rules,2003:-

1.       A registered dealer of textiles and textile articles falling under Chapters 50 to 63, can, at his option, take credit on his purchases and utilise the same to pay duty at the sale price of the said goods after packing etc. treating the clearances of such goods from his premises, as if they were manufactured by him.

2.       An independent weaver has been permitted to authorise another person to, maintain accounts, pay duty, and prepare invoice on his behalf as his agent.

3.       The last date for filing the stock declaration has been extended to 25^th April’2003.

4.       Traders have been allowed to take actual credit on the stock of processed fabrics lying in stock as on 31.03.2003.

5.       Rates of one time credit on the inputs lying in stock, in process or contained in stock as on 31.03.2003 have been notified under Rule 9A of the CENVAT Credit.

All members of the Trade and Industry are requested to give wide publicity to the contents of this Trade Notice.

(RAJENDRA PRAKASH)

COMMISSIONER

Authority : F. NO. B-3/4/TRU-2003(Pt.I) Dated 10^th April,2003

                      &  F. No. B-3/3/2003-TRU Dated 16^th April’2003