Endorsement limits on GP1 control Modvat credit eligibility, with packing and quantity/duty specification requirements following part supplies. Modvat credit on endorsed GP1 is permitted subject to endorsement limits and packing and transfer conditions: an original GP1 endorsed once may be endorsed once more only if the entire consignment is transferred to a third party in original packing, and no subsidiary gate pass may be issued for GP1s endorsed twice. For part supplies where no subsidiary pass was issued, the GP1 may be endorsed to the buyer of the remaining consignment specifying quantity and duty for Modvat credit.
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.
Endorsement limits on GP1 control Modvat credit eligibility, with packing and quantity/duty specification requirements following part supplies.
Modvat credit on endorsed GP1 is permitted subject to endorsement limits and packing and transfer conditions: an original GP1 endorsed once may be endorsed once more only if the entire consignment is transferred to a third party in original packing, and no subsidiary gate pass may be issued for GP1s endorsed twice. For part supplies where no subsidiary pass was issued, the GP1 may be endorsed to the buyer of the remaining consignment specifying quantity and duty for Modvat credit.
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