https://www.taxtmi.com/circulars?id=6766 The explanation clarifies that Modvat credit is admissible on inputs manufactured in a factory and captively used for the manufacture of final products specified under the relevant notification; it makes explicit what the unamended rule already permitted and is to be applied from the rule's commencement, enabling settlement of pending cases and instructing field formations to act accordingly. en-us Tue, 21 Mar 1989 00:00:00 +0530 Wed, 08 Jul 2009 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=6766 The explanation clarifies that Modvat credit is admissible on inputs manufactured in a factory and captively used for the manufacture of final products specified under the relevant notification; it makes explicit what the unamended rule already permitted and is to be applied from the rule's commencement, enabling settlement of pending cases and instructing field formations to act accordingly. Circulars Central Excise Tue, 21 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/circulars?id=6766