Modvat consolidation allowed: chapterwise RG 23A Part II accounts permitted with monthly product wise input duty statements required. Manufacturers may maintain consolidated RG 23A Part II registers chapterwise under the Modvat scheme and may utilise Modvat credit during the month without recording debits for each final product; however, they must submit a monthly product wise statement of input duty availed along with the RT 12 return to safeguard against misuse.
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 consolidation allowed: chapterwise RG 23A Part II accounts permitted with monthly product wise input duty statements required.
Manufacturers may maintain consolidated RG 23A Part II registers chapterwise under the Modvat scheme and may utilise Modvat credit during the month without recording debits for each final product; however, they must submit a monthly product wise statement of input duty availed along with the RT 12 return to safeguard against misuse.
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