Modvat credit on notified inputs allowed for use against duty on specified final products, with restrictions for export zone inputs. Specification of final products for Modvat credit permits credit of excise, special excise and additional duties paid on listed inputs when used in or in relation to manufacture of the specified final products, and allows utilisation of that credit for payment of duty on those final products or, where permitted, on the inputs themselves. Credits arising from inputs produced in free trade zones or by hundred per cent export-oriented undertakings and used in manufacture in India are restricted to an amount equivalent to the additional duty leviable on like goods.
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.
Modvat credit on notified inputs allowed for use against duty on specified final products, with restrictions for export zone inputs.
Specification of final products for Modvat credit permits credit of excise, special excise and additional duties paid on listed inputs when used in or in relation to manufacture of the specified final products, and allows utilisation of that credit for payment of duty on those final products or, where permitted, on the inputs themselves. Credits arising from inputs produced in free trade zones or by hundred per cent export-oriented undertakings and used in manufacture in India are restricted to an amount equivalent to the additional duty leviable on like goods.
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