Modvat credit for special excise duty expanded to cover provisional special duty payments under the Finance Bill, 1988. The amendment inserts a provision into the first proviso of Notification No. 177/86 so that payment of the special duty of excise under sub clause (i) of clause 82 of the Finance Bill, 1988, which has been given force of law by provisional declaration, is treated as duty whose payment permits availment of modvat credit, following the existing reference to duty leviable under the Central Excises and Salt Act, 1944.
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Provisions expressly mentioned in the judgment/order text.
Modvat credit for special excise duty expanded to cover provisional special duty payments under the Finance Bill, 1988.
The amendment inserts a provision into the first proviso of Notification No. 177/86 so that payment of the special duty of excise under sub clause (i) of clause 82 of the Finance Bill, 1988, which has been given force of law by provisional declaration, is treated as duty whose payment permits availment of modvat credit, following the existing reference to duty leviable under the Central Excises and Salt Act, 1944.
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