https://www.taxtmi.com/circulars?id=231 The MODVAT credit ceiling of 95% of duty applies only where credit is availed under the normal input credit provisions for inputs received in the manufacturer's factory on or after 2 June 1998; credits relating to job work removals accounted for by debiting and later crediting an amount under challan are not subject to the 95% restriction; inputs received on or before 1 June 1998 remain entitled to full credit to the extent of duty paid; specified petroleum products remain governed by their separate ad valorem credit limitation. en-us Thu, 10 Sep 1998 00:00:00 +0530 Mon, 22 Sep 2008 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=231 The MODVAT credit ceiling of 95% of duty applies only where credit is availed under the normal input credit provisions for inputs received in the manufacturer's factory on or after 2 June 1998; credits relating to job work removals accounted for by debiting and later crediting an amount under challan are not subject to the 95% restriction; inputs received on or before 1 June 1998 remain entitled to full credit to the extent of duty paid; specified petroleum products remain governed by their separate ad valorem credit limitation. Circulars Central Excise Thu, 10 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/circulars?id=231