Modvat declaration: immediate input credit upon acknowledgement; prior approval not required, stop demands by officers. Declaration under Rule 57G requires filing a description of final products and inputs and obtaining a dated acknowledgement; upon receipt of that acknowledgement the assessee may immediately avail credit of duty paid on inputs, and prior approval of the declaration is not required, with the Board directing that insistence on prior approval be stopped.
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 declaration: immediate input credit upon acknowledgement; prior approval not required, stop demands by officers.
Declaration under Rule 57G requires filing a description of final products and inputs and obtaining a dated acknowledgement; upon receipt of that acknowledgement the assessee may immediately avail credit of duty paid on inputs, and prior approval of the declaration is not required, with the Board directing that insistence on prior approval be stopped.
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