https://www.taxtmi.com/circulars?id=5663 Eligibility for Modvat credit on capital goods imported under Project Import Regulations prior to 1.3.1997 depends on whether such goods meet the capital goods definition in the Explanation to rule 57Q; classification under Chapter 98 for customs assessment is not determinative and goods must be assessed against chapters 1-96 of the Central Excise Tariff. Where invoices or separate c.i.f. values are unavailable, an independent Cost Accountant's proforma certificate showing assessable values and eligible credit, subject to departmental verification, may be accepted and the credit allowed based on the applicable additional customs duty rate. en-us Wed, 05 Nov 1997 00:00:00 +0530 Fri, 13 Mar 2009 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5663 Eligibility for Modvat credit on capital goods imported under Project Import Regulations prior to 1.3.1997 depends on whether such goods meet the capital goods definition in the Explanation to rule 57Q; classification under Chapter 98 for customs assessment is not determinative and goods must be assessed against chapters 1-96 of the Central Excise Tariff. Where invoices or separate c.i.f. values are unavailable, an independent Cost Accountant's proforma certificate showing assessable values and eligible credit, subject to departmental verification, may be accepted and the credit allowed based on the applicable additional customs duty rate. Circulars Central Excise Wed, 05 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5663