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of <h1>Modvat Credit Can Pay Duty on Final Products Made with Non-Duty Paid Inputs, Clarifies CBEC u/r 57F(3.</h1> The circular addresses whether Modvat credit taken on duty-paid inputs can be used to pay duty on similar goods manufactured using non-duty paid inputs. The Central Board of Excise and Customs clarifies that Rule 57F (3) allows the credit of duty on inputs to be used for payment of duty on final products, regardless of whether the inputs were duty-paid or not. The Board concludes that excess credit can be used for this purpose, even if the final products are manufactured from non-duty paid inputs. Field formations should be informed, and any related demands should be settled accordingly.
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