Modvat extension broadens input tax credit eligibility by adding specified tariff headings to the notification. The Central Government, in exercise of powers under rule 57A of the Central Excise Rules, 1944, amends Notification No. 5/94-Central Excises (N.T.) by substituting entries in the annexed Table: column (2) replaces the prior reference with heading and sub heading numbers 51.01, 51.02, 52.01, 52.02, 53.04, and column (3) replaces its entries with 51.01, 51.02, 51.03, 51.05, 52.01, 52.02, thereby extending Modvat coverage to those tariff headings.
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Modvat extension broadens input tax credit eligibility by adding specified tariff headings to the notification.
The Central Government, in exercise of powers under rule 57A of the Central Excise Rules, 1944, amends Notification No. 5/94-Central Excises (N.T.) by substituting entries in the annexed Table: column (2) replaces the prior reference with heading and sub heading numbers 51.01, 51.02, 52.01, 52.02, 53.04, and column (3) replaces its entries with 51.01, 51.02, 51.03, 51.05, 52.01, 52.02, thereby extending Modvat coverage to those tariff headings.
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