Modvat credit limitation: parts for black and white televisions cannot fund colour television duty; reclassification allows CVD credit. Modvat credit is restricted to inputs intended for the manufacture of the specific final product; credit on parts for Black & White televisions cannot be used for colour televisions. Countervailing duty on parts imported under customs heading 98.06 may be granted as Modvat credit if those parts are classified under an appropriate Central Excise Tariff heading before assessment of the bill of entry.
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 limitation: parts for black and white televisions cannot fund colour television duty; reclassification allows CVD credit.
Modvat credit is restricted to inputs intended for the manufacture of the specific final product; credit on parts for Black & White televisions cannot be used for colour televisions. Countervailing duty on parts imported under customs heading 98.06 may be granted as Modvat credit if those parts are classified under an appropriate Central Excise Tariff heading before assessment of the bill of entry.
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