Modvat credit procedural requirements relaxed: permission no longer required for removal of intermediate goods for jobwork, easing compliance. Amendments prevent denial of Modvat credit on procedural grounds and withdraw the permission requirement for removal of intermediate goods for jobwork. The prior administrative procedure is confined to a separate notification, and a revised Annexure I intimation format is prescribed for notifying the Collectorate with details of assessee, inputs, jobworker, resultant goods, transit loss and scrap return.
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Provisions expressly mentioned in the judgment/order text.
Modvat credit procedural requirements relaxed: permission no longer required for removal of intermediate goods for jobwork, easing compliance.
Amendments prevent denial of Modvat credit on procedural grounds and withdraw the permission requirement for removal of intermediate goods for jobwork. The prior administrative procedure is confined to a separate notification, and a revised Annexure I intimation format is prescribed for notifying the Collectorate with details of assessee, inputs, jobworker, resultant goods, transit loss and scrap return.
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