Credit of duty under Modvat expanded to include ingots, billets and hot re-rolled non-alloy steel for input duty credit. Amendment expands the class of iron and steel goods eligible for credit of duty under Modvat, adding ingots and billets and specified hot re-rolled non-alloy steel products to the notified list, provided excise duty has been paid under the applicable statutory duty provision; the additions are made to the relevant columns of the existing Central Excise notification and brought into force on the stated commencement date.
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Provisions expressly mentioned in the judgment/order text.
Credit of duty under Modvat expanded to include ingots, billets and hot re-rolled non-alloy steel for input duty credit.
Amendment expands the class of iron and steel goods eligible for credit of duty under Modvat, adding ingots and billets and specified hot re-rolled non-alloy steel products to the notified list, provided excise duty has been paid under the applicable statutory duty provision; the additions are made to the relevant columns of the existing Central Excise notification and brought into force on the stated commencement date.
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