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of <h1>Ministry of Finance Clarifies Rule 57E: Modvat Adjustments Allowed for Duty Paid Post-March 1, 1987, After Classification Changes.</h1> The circular from the Ministry of Finance addresses concerns regarding the applicability of Rule 57E in cases where product classification changes occurred before March 1, 1987. It clarifies that the date relevant for adjusting additional duty is when the payment is made. Therefore, if classification changes were made based on the Board's instructions and additional duty was paid on or after March 1, 1987, adjustments in the Modvat users' accounts are permissible. The circular requests acknowledgment of receipt and notes that a Hindi version will be provided later.
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