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

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....ishment - Instructions regarding Circular 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....

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....rmediate Advance Licence Scheme and supplies under Modvat 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....