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of <h1>Government Amends Rule 57H to Restore Modvat Credit for Intermediate Goods from 1994 Manufacturing Period.</h1> The Central Government addressed an issue concerning the denial of Modvat credit on certain intermediate goods, such as covered rubber thread and spandex yarn, which occurred during the manufacturing process between May 20, 1994, and October 20, 1994. This was due to the rescinding of Rule 56A of the Central Excise Rules, 1944. To resolve this, the government amended Rule 57H and issued Notification No. 35/98-CE(NT) on September 1, 1998, allowing Modvat credit for these goods during the specified period, thus alleviating trade difficulties.
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