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of <h1>Ministry of Finance clarifies Rule 57G: Detailed input and product descriptions needed for MODVAT credit; past cases reviewed.</h1> The circular from the Ministry of Finance addresses the requirement under Rule 57G for filing declarations about inputs and final products for MODVAT credit. It acknowledges the trade's concern over the difficulty of listing numerous inputs for a single product. Despite this, the Board mandates that descriptions and sub-headings for both inputs and final products are necessary and cannot be waived. However, past cases can be evaluated by Collectors based on the merits, considering if records show inputs were used in manufacturing and if broad descriptions were filed, credit should not be denied.
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