MODVAT extension expands eligible input goods for credit, substituting the tariff table and excluding specified headings. Notification substitutes the prior tariff Table to extend MODVAT eligibility by listing goods classifiable under numerous chapters of the Schedule to the Central Excise Tariff Act, 1985 as eligible inputs for credit, while expressly excluding goods falling under Heading Nos. 36.05 and 37.06.
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MODVAT extension expands eligible input goods for credit, substituting the tariff table and excluding specified headings.
Notification substitutes the prior tariff Table to extend MODVAT eligibility by listing goods classifiable under numerous chapters of the Schedule to the Central Excise Tariff Act, 1985 as eligible inputs for credit, while expressly excluding goods falling under Heading Nos. 36.05 and 37.06.
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