Clarification reg. Availment & utilisation of Modvat credit on machines purchased but not put to use prior to 7.1.1996

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Full Text of the Document

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....tilisation of Modvat credit on machines purchased but not put to use prior to 7.1.1996 It has been brought to the notice of the Board that credit have been denied/ sought to be denied by the field formations in cases where the assessees having their factory/ unit already in operation, had availed and utilised Modvat credit of specified duty on capital goods immediately after receipt of the capit....