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of <h1>Procedure for Adjusting Modvat Credit u/r 57E Post-Refund of Duties on Inputs Explained.</h1> The circular outlines the procedure for adjusting Modvat credit under Rule 57E of the Central Excise Rules, 1944, following the grant of refunds for duties paid on inputs. The process involves the Assistant Collector of Central Excise, who sanctions the refund claim without immediate payment and informs the officer in charge of the consignee factory about the refund amount. The consignee factory officer must then debit the appropriate amount from R.G. 23(A) Part II or PLA and notify the Assistant Collector. Upon receiving confirmation from all relevant officers, the Assistant Collector proceeds with the refund payment. This procedure is to be communicated to the trade via a trade notice.
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