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of <h1>Ministry of Finance Eases Modvat Credit Rules for Manufacturers Sending Inputs to Job Workers u/r 57F(1)(ii.</h1> The circular issued by the Ministry of Finance addresses procedural relaxation for Modvat credit concerning manufacturers who send inputs to job workers for processing. Previously, inputs were sent to job workers under Rule 57F(1)(ii) with duty payment, leading to double transportation and handling costs. The new procedure allows inputs to be consigned directly to job workers from suppliers, similar to transactions involving registered dealers. The job worker, as the consignee, can avail Modvat credit using the manufacturer's invoice under Rule 52A, which includes details of both the consignee and the manufacturer who instructed the dispatch.
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