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Modvat credit of duty paid on Capital Goods
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.... : Modvat credit of duty paid on Capital Goods The Board is in receipt of the references from the field formations to amend Rule 174 and the rules under Section AAAA of Chapter V of the Central Excise Rules so that the Modvat credit should be allowed on receipt of the capital goods during setting up a factory for manufacture of the final products. It has been stated that in these cases difficul....