Modvat Scheme - certain clarification reg.

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....availing of credit under the Modvat Scheme, documentation and procedure to be followed. In this connection the points raised by trade and the Commissioners and the Clarification thereof are as follows: Point - I Whether depots/ consignment agents of a manufacturer are required to give certificate stipulated under notification No. 27/96-CE (NT) dated 31.08.1996. Clarification There is no ne....

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....1/ 96-TRU dated 31.8.96. Point - 3 Whether the value of inputs or the partially processed inputs for the purpose of debiting an amount equal to 10% of the value of such inputs or partially processed inputs under Rule 57F (3A)(i) should also include the value of inputs used during such processing on which on credit has been availed. Clarification If some inputs on which no credit has been t....

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....mputing 6 months period to avail the credit under Rule 57 G where- (i) Transporter's copy of the invoice is lost and the credit in permitted after a period of 6 months. (ii) Credit is taken under rule 57E of duty paid on a date after 6 months of duty paid originally.Clarification (i) & (ii). 6 months period may not apply in such cases as restriction of 6 months is applicable only to those case....