Modvat credit on disputed inputs can be held pending resolution if unused and undertakings provided to authorities. Modvat credit on disputed inputs may be retained without issuance of repeated show cause notices if the assessee gives an undertaking that the credit will be recorded only in RG 23A Part I and not utilised until final settlement; the assessee may pay duty to the extent of the disputed credit from the Personal Ledger Account under protest and later adjust the credit once the dispute is resolved, with an expectation that disputes be settled expeditiously.
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 on disputed inputs can be held pending resolution if unused and undertakings provided to authorities.
Modvat credit on disputed inputs may be retained without issuance of repeated show cause notices if the assessee gives an undertaking that the credit will be recorded only in RG 23A Part I and not utilised until final settlement; the assessee may pay duty to the extent of the disputed credit from the Personal Ledger Account under protest and later adjust the credit once the dispute is resolved, with an expectation that disputes be settled expeditiously.
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