Modvat rule amendment broadens documentary basis for credit under Central Excise Rules, changes timing and removes provisos. Amendment to Modvat Rule 57H requires that credits be claimed on the basis of 'any invoice or under any document as may be prescribed by the Central Board of Excise and Customs,' inserts the words 'or after' to modify timing relative to obtaining a dated acknowledgement, omits the first proviso to sub rule (1), and removes the word 'further' from the second proviso, with the changes effective on publication in the Official Gazette.
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Modvat rule amendment broadens documentary basis for credit under Central Excise Rules, changes timing and removes provisos.
Amendment to Modvat Rule 57H requires that credits be claimed on the basis of "any invoice or under any document as may be prescribed by the Central Board of Excise and Customs," inserts the words "or after" to modify timing relative to obtaining a dated acknowledgement, omits the first proviso to sub rule (1), and removes the word "further" from the second proviso, with the changes effective on publication in the Official Gazette.
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