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of <h1>Clarification on Modvat Credit Irregularities: SSI Manufacturers Can't Avail Concessional Duty Under Notification No. 175/86 Without Rule 57A Credit.</h1> The circular addresses concerns about the irregular availment of Modvat Credit under Rule 57B, following objections from CERA. It clarifies whether small-scale industry (SSI) manufacturers can avail themselves of a concessional duty rate under Notification No. 175/86 if Modvat credit is not admissible on inputs that are fully exempted or non-excisable. The Central Board of Excise & Customs has examined the issue and concluded that the concessional rate is only applicable when credit is taken under Rule 57A for duty paid on inputs. The audit objection is admitted, and field formations are instructed to finalize pending assessments accordingly.
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