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of <h1>Circular Clarifies Modvat Credit Validity: Running Serial Numbers on Computer-Generated Invoices Are Acceptable, No Denial Needed.</h1> The circular addresses the issue of modvat credit denial due to computer-generated invoices lacking pre-printed serial numbers. It notes inconsistency among commissionerates, with some mandating pre-printed serial numbers while others do not. The Board clarifies that running serial numbers can be printed at the time of invoice generation and that denial of modvat credit on this basis is unwarranted. It instructs that show-cause notices should not be issued for this reason, and existing notices should be resolved accordingly. The circular aims to standardize practices across commissionerates and prevent procedural discrepancies from affecting credit admissibility.
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