Central Excise - Credit or Modvat benefit of CVD paid on steel sheets imported by M/s. IOC Ltd. - Clarification regarding

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.... Ministry of Finance (Department of Revenue) Central Board of Excise & Customs, New Delhi Subject : Central Excise - Credit or Modvat benefit of CVD paid on steel sheets imported by M/s. IOC Ltd. - Clarification regarding. It has been brought to the notice of the Board that M/s. Indian Oil Corporation Ltd. (IOC) import steel sheets through MMTC, the canalising agency, on High Sea Purchase basi....

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....nvited to Ministry's letter F. No. B-22/8/36-TRU, dated 10-4-1986 whereunder instructions have already been issued to the effect that in case of import of any inputs canalised through the public sector undertakings like STC/MMTC, credit under Modvat Scheme can be taken on the scrength of the certificates issued by such public sector undertakings as proof of payment of countervailing duty. It has ....