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of <h1>New Guidelines Allow Modvat Credit Despite Minor Procedural Errors; Amends Central Excise Rules to Reduce Litigation.</h1> The circular outlines guidelines for allowing Modvat credit despite minor procedural lapses in declarations or invoices. It amends the Central Excise Rules to empower the Assistant Commissioner of Central Excise to permit credit for duty paid on inputs or capital goods, provided they are used in manufacturing and have incurred duty. Before issuing a Show Cause Notice for incorrect Modvat credit claims, the Assistant Commissioner must verify the duty-paid status and usage of goods. The circular emphasizes reducing litigation by ensuring procedural lapses are properly investigated and resolved, and pending cases should be addressed accordingly.
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