Notification No. 217/86-C.E., dated 2-4-1986 as amended by Notification No. 97/89-C.E., dated 1-3-1989 providing for clearance of goods from one plant to another of the same manufacturer without payment of duty under Chapter X procedure - Amendment regarding
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Input credit entitlement limited where intermediates are cleared exempt under Chapter X; paying duty lets Modvat credit be availed. The Board confirms that Modvat/input credit is not available where intermediate products are exempted and cleared under Chapter X; alternatively, ... Summary
Input credit entitlement limited where intermediates are cleared exempt under Chapter X; paying duty lets Modvat credit be availed.
The Board confirms that Modvat/input credit is not available where intermediate products are exempted and cleared under Chapter X; alternatively, manufacturers may forego the Chapter X exemption, pay duty on intermediates at clearance and utilise Modvat/input credit for that duty, allowing credit without following the Chapter X procedure, and no amendment to Notification No. 97/89-C.E. is required.
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