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of <h1>Ministry of Finance simplifies RG 23A account maintenance under Modvat scheme; allows chapterwise registers for easier compliance.</h1> The circular addresses the maintenance of RG 23A accounts under the Modvat scheme, initially requiring separate registers for each final product. Due to difficulties faced by manufacturers with numerous products, the Ministry of Finance has decided to allow the RG 23A Part II register to be maintained chapterwise. Manufacturers can utilize Modvat credit without detailing each product separately but must submit a monthly statement with input duty details for each product. Collectors are instructed to inform the Trade and report any issues to the Board. Acknowledgment of receipt is requested, with a Hindi version to follow.
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