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of <h1>Modvat Credit on C.V. Duty: Importers Must Declare Intent on Bill of Entry; No Denial Without Declaration.</h1> The circular addresses issues regarding Modvat credit for countervailing duty (C.V. duty) on imported goods. Importers must declare their intention to claim Modvat credit on the Bill of Entry, which is confirmed by Custom Houses. If no declaration was made, Modvat credit should not be denied solely on this basis. Importers must declare to the Central Excise Officer that no refund of C.V. duty has been claimed, allowing the officer to grant credit. Custom Houses will verify and ensure no future refunds are issued unless confirmed by the Central Excise Superintendent. The Hindi version of the circular will be issued later.
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