Modvat input credit timing clarified: procedural conditions for recredit and documentation specified including job work and imported inputs Clarifies Modvat documentation and procedural rules: consignment agents need not issue the prescribed certificate when invoicing for the manufacturer; PLA account credit is allowed only via TR 6 challan or specific officer order, while recredit on return from job work must be made to RG 23A Part II. Partially processed inputs cleared for job work require debiting the prescribed proportion of their total value even if some components had no credit taken. Six month timing for imported inputs is computed from duty payment, with exceptions where permission or certification extends the period; head office bill of entry procedures apply to transfers to associated units.
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Modvat input credit timing clarified: procedural conditions for recredit and documentation specified including job work and imported inputs
Clarifies Modvat documentation and procedural rules: consignment agents need not issue the prescribed certificate when invoicing for the manufacturer; PLA account credit is allowed only via TR 6 challan or specific officer order, while recredit on return from job work must be made to RG 23A Part II. Partially processed inputs cleared for job work require debiting the prescribed proportion of their total value even if some components had no credit taken. Six month timing for imported inputs is computed from duty payment, with exceptions where permission or certification extends the period; head office bill of entry procedures apply to transfers to associated units.
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