https://www.taxtmi.com/notifications?id=15124 Amendments clarify that Modvat credit cannot be denied because intermediate products arise or inputs are used in capital goods, even if those items are temporarily exempt or nil rated, provided intermediate products are used within the factory for dutiable final products and specified under notification; inputs used to generate electricity or steam within the factory also qualify. Procedural rules permit authorised removal of inputs outside the factory for specified operations after intimation, require monthly returns with duty documents for verification, and empower officers to require documents, examine persons, and reassess duty payable. en-us Thu, 18 May 1995 00:00:00 +0530 Fri, 10 Jul 2009 13:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=15124 Amendments clarify that Modvat credit cannot be denied because intermediate products arise or inputs are used in capital goods, even if those items are temporarily exempt or nil rated, provided intermediate products are used within the factory for dutiable final products and specified under notification; inputs used to generate electricity or steam within the factory also qualify. Procedural rules permit authorised removal of inputs outside the factory for specified operations after intimation, require monthly returns with duty documents for verification, and empower officers to require documents, examine persons, and reassess duty payable. Notifications Central Excise Thu, 18 May 1995 00:00:00 +0530 https://www.taxtmi.com/notifications?id=15124