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of <h1>Central Board Amends Rule 57F: Inputs with Modvat Credit Can Be Removed for Home Use With Conditions.</h1> The circular issued by the Central Board of Excise & Customs, dated June 2, 1992, addresses the amendment of Rule 57F through Notification No. 4/92-C.E. (N.T.). This amendment introduces sub-rule (1A), allowing inputs with restricted Modvat credit under Rule 57A to be removed from the factory for home consumption, subject to prior permission and payment of equivalent excise duty. The Board has decided that filing a classification or price list is unnecessary in such cases. Clearances can be made using a gate pass with a reference to the Modvat credit entry, ensuring the credit is reversed accurately.
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