Option to avail Modvat credit: Board affirms validity of instructions allowing choice between exemption and duty payment. The Board confirms that assessees retain the option to claim Modvat credit or to avail the full exemption instead of paying duty; after consultation with ... Summary
Option to avail Modvat credit: Board affirms validity of instructions allowing choice between exemption and duty payment.
The Board confirms that assessees retain the option to claim Modvat credit or to avail the full exemption instead of paying duty; after consultation with the Law Ministry the Board's instructions advising this choice are upheld as legally sustainable and need no review.
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