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of <h1>Excise Board Clarifies Six-Month MODVAT Credit Limit u/r 57G Doesn't Apply to Capital Goods Per Rule 57T.</h1> The Central Board of Excise & Customs issued a circular clarifying that the six-month time limit for availing MODVAT credit on inputs, as stipulated under Rule 57G of the Central Excise Rules, does not apply to capital goods. This clarification was made following inquiries from the trade sector, acknowledging that it may not always be feasible to claim credit on capital goods within six months of document issuance. The Board, after consulting with the Ministry of Law, confirmed that the time restriction under Rule 57G does not extend to capital goods credit under Rule 57T.
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