MODVAT credit reversal: exports accepted to discharge obligation on certified reversal and interest payment. Exports where MODVAT/input stage credit was reversed after factory clearance may be accepted to discharge export obligation on production of a certificate from the Assistant Commissioner of Central Excise confirming reversal by the stipulated cut off and payment of interest for the period the credit was retained; this certificate is acceptable from manufacturer exporters and merchant exporters who had indicated supporting manufacturer(s) at licence issuance.