Maintenance of separate data (a) Modvat credit taken and utilised out of countervailing duty paid on imports against Bills of Entry, and (b) Modvat credit taken and utilised against Central Excise Gate Passes
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Separate MODVAT credit reporting required monthly to segregate credits arising from countervailing duty on imports and gate passes. The Board directs preparation of a month-end abstract on RG-23A Part II that separately records MODVAT credits taken as countervailing duty (based on ... Summary
Separate MODVAT credit reporting required monthly to segregate credits arising from countervailing duty on imports and gate passes.
The Board directs preparation of a month-end abstract on RG-23A Part II that separately records MODVAT credits taken as countervailing duty (based on Bills of Entry) and as Central Excise duty (based on gate passes); officers must be notified and compliance ensured from the effective date, with acknowledgement of receipt.
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