Consolidated RG 23A Part II register: permits chapterwise credit maintenance but requires product wise input credit statements and adjustments. Consolidated RG 23A Part II maintenance is a permitted procedural relaxation for Modvat credit but does not change the principle that input duty credit must be used only for final products for which those inputs were used. Where consolidated registers are maintained, assessees must submit a month end statement showing input credit availed and product wise utilisation, adjust any excess credit, and allow recovery of differential duty if credit was improperly utilised; a uniform proforma has been prescribed for this purpose.
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.
Consolidated RG 23A Part II register: permits chapterwise credit maintenance but requires product wise input credit statements and adjustments.
Consolidated RG 23A Part II maintenance is a permitted procedural relaxation for Modvat credit but does not change the principle that input duty credit must be used only for final products for which those inputs were used. Where consolidated registers are maintained, assessees must submit a month end statement showing input credit availed and product wise utilisation, adjust any excess credit, and allow recovery of differential duty if credit was improperly utilised; a uniform proforma has been prescribed for this purpose.
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