ISLAMABAD, March 8: The Central Board of Revenue has notified special procedure for collection of Central Excise Duty on iron and steel plates recovered through dismantling or breaking of all types of vessels.

The CBR issued a notification on Friday, amending the central excise rules, 1944 in this connection.

The notification reads: “As for rule 96ZZ, the following shall be substituted namely — 96ZZ special procedure for collection of central excise duty on iron and steel plates recovered through dismantling or breaking of vessels of all types etc. — no person shall engage in breaking or dismantling of vessel of any type falling in Chapter 89 of the first schedule to the Centre Excises Act, 1944, without obtaining a licence in the form L-1 in accordance with the provisions of Chapter VIII.

“Before commencing the process of dismantling or breaking of a vessel, the licensee shall submit a written application to the concerned assistant collector, giving therein his option either to pay CED under the procedure laid down in Chapter XV or under the special procedure laid down in this rule.

“The licensee shall give a written notice to the concerned assistant collector at least one month in advance if he wants to switch over from one option to the other and shall not so switch over until a written permission to that effect is issued by the concerned assistant collector.

“For the purpose of assessment of CED, 60 per cent of all types of vessels, etc., by weight shall be taken as ship plate. CED on the ship plates to be removed under this rule shall be paid in accordance with the procedure, which the CBR may specify from time to time by a general order or a circular.

“The licensee who opts to pay CED under this rule shall not be required to maintain the usual CED records such as AR-1, RG-1, Gate Pass, RT-1 and RT-3. He shall, however, be required to submit by the fifteenth of every month a monthly return.

“Violation of any provision of this rule shall be punishable under rule 210.”