Modvat credit entitlement: importer-issued certificates may serve as duty-paying proof enabling downstream manufacturers to claim credit. Indian Oil Corporation Ltd.'s steel sheet imports through MMTC on a high-sea purchase basis, with customs papers filed at import and consignments split for onward supply, may be supported by certificates issued by the importer which will be regarded as duty paying documents evidencing payment of countervailing duty, thereby enabling cylinder manufacturers to claim Modvat credit; the same procedure applied to other public sector canalising agencies is to be followed and publicised by trade notices.
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.
Modvat credit entitlement: importer-issued certificates may serve as duty-paying proof enabling downstream manufacturers to claim credit.
Indian Oil Corporation Ltd.'s steel sheet imports through MMTC on a high-sea purchase basis, with customs papers filed at import and consignments split for onward supply, may be supported by certificates issued by the importer which will be regarded as duty paying documents evidencing payment of countervailing duty, thereby enabling cylinder manufacturers to claim Modvat credit; the same procedure applied to other public sector canalising agencies is to be followed and publicised by trade notices.
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