https://www.taxtmi.com/circulars?id=6871 The Board held that there is no bar to simultaneous availment of Modvat and full exemption provided input credits are taken only for inputs used in manufacture of excisable final products and are applied to duty payment for those products; manufacturers must maintain separate accounts from raw material to finished goods to demonstrate that credit relates solely to dutiable production. This applies to aluminium circles, copper winding wires, and similarly situated commodities, and past cases are to be settled accordingly. en-us Mon, 08 Aug 1988 00:00:00 +0530 Wed, 08 Jul 2009 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=6871 The Board held that there is no bar to simultaneous availment of Modvat and full exemption provided input credits are taken only for inputs used in manufacture of excisable final products and are applied to duty payment for those products; manufacturers must maintain separate accounts from raw material to finished goods to demonstrate that credit relates solely to dutiable production. This applies to aluminium circles, copper winding wires, and similarly situated commodities, and past cases are to be settled accordingly. Circulars Central Excise Mon, 08 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/circulars?id=6871