Reversal of Modvat credit and payment of interest where exports were effected under Value Based Advance Licence before 31.1.97 under Special Scheme - Issue of Certificate - Regarding

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....Department of Revenue, New Delhi  Subject: Reversal of Modvat credit and payment of interest where exports were effected under Value Based Advance Licence before 31.1.97 under Special Scheme - Issue of Certificate - Regarding It has been brought to the notice of the Board that certificates are not being issued to the exporters, who have reversed the modvat credit in terms of the inst....

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....ommissioner on the body of the document containing the aforesaid particulars with initials on each of the leaf, indicating whether credit has been correctly reversed as per the formula and interest has been fully paid. Where reversal ia not in conformity with the Board's formula, the same can be got determined by Cost Accountant nominated by the Chief Commissioner under section 14A of Central Exci....

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....issionerate ____________________________ Division ______________________  Range ___________________     Shipping Bill No.        S.No. & date of AR4 / AR4A covered by Shipping Bill mentioned in Col. (1)    Amount of Modvat credit required to be reversed in terms of formula      (1) (2) (3)   Amount of mod....