Modvat invoice reporting requires monthly duplicate submission and Range Officer endorsement of unsold quantities and duty balances. A new sub rule requires registered persons to submit within seven days after each month duplicate copies of invoices under rule 52A/57G to the Range Officer; fully sold invoices must be defaced with 'MODVAT ALLOWED - NOT TO BE USED AGAIN'; for partially sold invoices the Range Officer shall endorse received quantity, issued quantity, total input stage credit available, amount invoiced, and the balance quantity and duty available for issuing invoices. An Annexure prescribes a proforma for receipt and issue records and related entry rules.
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Modvat invoice reporting requires monthly duplicate submission and Range Officer endorsement of unsold quantities and duty balances.
A new sub rule requires registered persons to submit within seven days after each month duplicate copies of invoices under rule 52A/57G to the Range Officer; fully sold invoices must be defaced with "MODVAT ALLOWED - NOT TO BE USED AGAIN"; for partially sold invoices the Range Officer shall endorse received quantity, issued quantity, total input stage credit available, amount invoiced, and the balance quantity and duty available for issuing invoices. An Annexure prescribes a proforma for receipt and issue records and related entry rules.
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