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of <h1>Manufacturers Can Make Consolidated Debit Entries for Raw Materials in RG 23A Part II, Must Submit Monthly Statements.</h1> The circular issued by the Central Board of Excise & Customs addresses a recommendation from a conference to allow manufacturers to make consolidated debit entries in RG 23A Part II for various raw materials used in producing the same final product, easing the process of availing Modvat Credit. The Board permits maintaining RG 23A Part II on a chapter-wise basis but requires manufacturers to submit a monthly statement with R.T. 12 returns detailing input credit duty for each final product to prevent misuse. The circular requests acknowledgment of receipt.
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