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of <h1>Circular Clarifies Modvat Credit Rules for DTA Units Converting to EOU, EHTP, or STP; Unutilized Credit Will Lapse.</h1> The circular addresses the treatment of Modvat credit for Domestic Tariff Area (DTA) units converting into Export Oriented Units (EOU), Electronic Hardware Technology Parks (EHTP), or Software Technology Parks (STP). It clarifies that Modvat credit availed and utilized by DTA units on plant, machinery, and equipment before conversion does not need to be reversed. However, any unutilized Modvat credit at the time of conversion will lapse and cannot be used post-conversion. The circular calls for public dissemination of this clarification and invites feedback on implementation challenges.
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