Special excise duty credit under MODVAT scheme includes provisionally declared special excise duty treated as having force of law. Credit of special excise duty paid on inputs under the MODVAT scheme is clarified by substituting clause (ii) to expressly include the special duty of excise specified in the Finance Bill, which, by declaration under the Provisional Collection of Taxes Act, has the force of law and thus falls within the duties eligible for input credit.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Special excise duty credit under MODVAT scheme includes provisionally declared special excise duty treated as having force of law.
Credit of special excise duty paid on inputs under the MODVAT scheme is clarified by substituting clause (ii) to expressly include the special duty of excise specified in the Finance Bill, which, by declaration under the Provisional Collection of Taxes Act, has the force of law and thus falls within the duties eligible for input credit.
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