Supplies of intermediate products under Intermediate Advance Licence - Admissibility of Modvat where raw materials are imported as replenishment - Instructions regarding

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....lar No. 6/92 Dated 1-6-1992 [Form F. No. 209/6/92-CX.6] Government of India Central Board of Excise & Customs New Delhi Subject : Supplies of intermediate products under Intermediate Advance Licence - Admissibility of Modvat where raw materials are imported as replenishment - Instructions regarding. Representations have been received by the Board from various associations and assessees requ....

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.... are fairly complex procedures involving simultaneous scrutiny of complex customs, excise and import licensing aspects. It is considered necessary that the legal position on the subject be clarified as under : It is permissible under law for an intermediate advance licence holder to use indigenous raw materials to manufacture his finished product (intermediate product in terms of Rule 191BB) to b....