Modvat credit must be taken immediately on receipt of inputs; genuine delays may be permitted on administrative review. Availment of Modvat credit must occur immediately on receipt of inputs in the assessee's factory together with duty paying documents; while no statutory time limit exists, Rule 57G and administrative instruction require credit to be taken upon receipt, and genuine stray delays may be taken up with the concerned Collector of Central Excise.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Modvat credit must be taken immediately on receipt of inputs; genuine delays may be permitted on administrative review.
Availment of Modvat credit must occur immediately on receipt of inputs in the assessee's factory together with duty paying documents; while no statutory time limit exists, Rule 57G and administrative instruction require credit to be taken upon receipt, and genuine stray delays may be taken up with the concerned Collector of Central Excise.
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