Modvat credit on customs appraiser certificate was upheld where the Board's circular recognised the certificate as valid support.

Modvat credit of countervailing duty could be claimed on the basis of a certificate issued by the customs appraiser posted in the foreign post office. The lower authorities had treated that certificate as insufficient, but the Board's circular specifically recognised such certification as a valid basis for availing credit. In light of that circular, the denial of credit was not sustainable, and the assessee was entitled to claim Modvat credit.

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Issues: Whether Modvat credit could be claimed on the basis of a certificate issued by the appraiser of customs posted in the foreign post office.

Analysis: The certificate issued by the appraiser of customs was treated by the lower authorities as insufficient for availing credit. The Board's circular, however, specifically recognised that Modvat credit of CVD could be taken on such a certificate. In view of that circular, the denial of credit was not sustainable.

Conclusion: The assessee was held entitled to claim Modvat credit.

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