Clarifications on Modvat Scheme: Credit Availing, Documentation, and Procedures for Manufacturers and Depots; Rule 57E Exceptions Explained.

The circular addresses clarifications regarding the Modvat Scheme, focusing on credit availing, documentation, and procedures. It specifies that depots or consignment agents of manufacturers are not required to provide certificates under a specific notification. Manufacturers can only take re-credit in the RG-23A Part-II account, not the PLA account, when goods are returned from job workers. The 10% debit value should exclude inputs without credit, except for partially processed inputs. The six-month credit period starts from the duty payment date, and exceptions apply when transporter's invoices are lost or credit is taken under Rule 57E. A procedure for transferring imported inputs to a sister unit is also outlined.

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