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of <h1>Ministry of Finance Clarifies No Excise Duty on Empty Containers from Modvat Inputs; Containers Not Eligible for Credit.</h1> The circular from the Ministry of Finance addresses concerns about the payment of excise duty on waste, specifically empty containers, generated from inputs received under the Modvat scheme. It clarifies that containers should not be considered as inputs for Modvat credit purposes. The credit is applicable only to the duty on inputs, not on containers, even if the input value includes container value. Consequently, no excise duty is payable when these empty containers are cleared from the factory.
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