Modvat credit entitlement: electing to pay duty on otherwise exempt inputs allows credit where those inputs are used in manufacture. If the assessee elects to pay duty on goods that are otherwise fully exempt, the assessee may claim Modvat credit on the duty paid when those inputs are used in the manufacture of final products; administrative and trade instructions are to be issued for implementation.
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: electing to pay duty on otherwise exempt inputs allows credit where those inputs are used in manufacture.
If the assessee elects to pay duty on goods that are otherwise fully exempt, the assessee may claim Modvat credit on the duty paid when those inputs are used in the manufacture of final products; administrative and trade instructions are to be issued for implementation.
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