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of <h1>Inputs Cleared u/r 57F(1)(ii) Not Included in Aggregate Value for Small Scale Exemption Notification.</h1> The circular clarifies whether the value of inputs cleared under Rule 57F(1)(ii) on payment of duty should be included in the aggregate value of clearances for Notification No. 175/86. The Central Board of Excise & Customs has determined that since these inputs, on which Modvat credit has been taken, are purchased and not manufactured by the assessee, they should not be included in the aggregate value of clearances under the Small Scale Exemption Notification. Field formations and trade interests should be informed of this decision, and acknowledgment of receipt of the circular is requested.
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