https://www.taxtmi.com/circulars?id=7012 Simultaneous availment of Modvat input-credit and full exemption is permitted provided the inputs on which credit is taken are used in manufacture of dutiable final products and accounted for through a reasonable system. Manufacturers may produce exempt and dutiable variants concurrently if separate accounts are maintained from raw material to finished product. Claimants must give prompt intimation on receipt of raw materials destined for exempt production, make such material available for inspection, maintain records, and submit quarterly returns; the approach applies to other commodities under similar circumstances. en-us Tue, 30 Aug 1988 00:00:00 +0530 Thu, 09 Jul 2009 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7012 Simultaneous availment of Modvat input-credit and full exemption is permitted provided the inputs on which credit is taken are used in manufacture of dutiable final products and accounted for through a reasonable system. Manufacturers may produce exempt and dutiable variants concurrently if separate accounts are maintained from raw material to finished product. Claimants must give prompt intimation on receipt of raw materials destined for exempt production, make such material available for inspection, maintain records, and submit quarterly returns; the approach applies to other commodities under similar circumstances. Circulars Central Excise Tue, 30 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7012