TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>MODVAT/CENVAT Credit Allowed on Inputs for Destroyed Goods, No Reversal Needed if Duty Remission Granted, Per CEGAT.</h1> The circular addresses the admissibility of MODVAT/CENVAT credit on inputs used in manufacturing finished goods where duty has been remitted. It clarifies that credit is permissible on inputs used in goods destroyed due to uncontrollable circumstances, as supported by CEGAT decisions. The Board confirms that reversal of credit is unnecessary if duty remission is granted, provided the insurance claim excludes the duty element of inputs taken as credit. Instructions in Chapter 18 of the Central Excise Manual will be modified accordingly, and relevant parties are to be informed.
TaxTMI 
TaxTMI 
