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of <h1>Modvat Credit Allowed on Packaging Materials Regardless of Duty Rate, Says Central Board of Excise and Customs.</h1> The circular addresses the admissibility of Modvat credit on packaging materials subject to a specific rate of duty, as discussed in a Modvat meeting in Bangalore. The Central Board of Excise and Customs reaffirms that Modvat credit should be granted for duty paid on inputs, including packaging materials, used in manufacturing final products, regardless of whether the final product is subject to an ad valorem or specific rate of duty. The instructions from a previous directive should be followed, ensuring Modvat credit is not denied based on the duty rate applicable to the final product. Trade and field formations are to be informed accordingly.
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