Minutes of the Modvat meeting held at Bangalore on 29-11-1989 - Point No. 21 & 23 regarding admissibility of Modvat credit on packaging materials used in the manufacture of final products leviable to specific rate of duty

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....23 regarding admissibility of Modvat credit on packaging materials used in the manufacture of final products leviable to specific rate of duty Circular No. 37/90-CX.8 Dated 3-7-1990 [From F.No . 263/77/89-CX.8] Government of India Central Board of Excise & Customs New Delhi Subject : Minutes of the Modvat meeting held at Bangalore on 29-11-1989 - Point No. 21 & 23 regarding ad....

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....rescribes that for purpose of this rule, input does not include packaging materials the cost of which is not included or had not been included during the preceding financial year, in the assessable value of the final product under Section 4 of the Act. The explanation aforesaid is applicable to those final products which are chargeable to ad valorem rates of duties. In case of final products wh....