Minutes of the Monthly Modvat meeting held at Bombay on 22-4-1989 - Point No. 14 - Utilization of total Modvat credit towards payment of basic excise duty and special excise duty https://www.taxtmi.com/circulars?id=6706 Credit of specified duties taken on inputs under the MODVAT scheme may be utilised for payment of any of the specified duties on final products and need not be applied only against the duty head under which it was claimed. However, receipt of credit and its utilisation in respect of each specified duty must be accounted for separately to ensure proper revenue accounting. en-us Mon, 26 Jun 1989 00:00:00 +0530 Sat, 04 Jul 2009 16:45:00 +0530 TaxTMI RSS Generator Minutes of the Monthly Modvat meeting held at Bombay on 22-4-1989 - Point No. 14 - Utilization of total Modvat credit towards payment of basic excise duty and special excise duty https://www.taxtmi.com/circulars?id=6706 Credit of specified duties taken on inputs under the MODVAT scheme may be utilised for payment of any of the specified duties on final products and need not be applied only against the duty head under which it was claimed. However, receipt of credit and its utilisation in respect of each specified duty must be accounted for separately to ensure proper revenue accounting. Circulars Central Excise Mon, 26 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/circulars?id=6706