Modvat - Changes - Regarding

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.... through issue of Notification No. 117/87-C.E., dated the 15th April, 1987. The salient features of these changes are indicated below. 1. Simultaneous availing of Rules 56A and 57A. By virtue of sub-rule (9) of Rule 56A, a manufacturer who is availing of Modvat cannot avail of credit under Rule 56A in respect of any product irrespective of whether such product is covered under Modvat or not.....

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....7G Rule 57G is being amended so as to provide that for taking Modvat credit, the inputs shall be received under cover of prescribed duty paying documents. There may be instances where on account of movement by rail etc. the duty paying documents are received subsequently. In such cases, credit can be allowed only after receipt of the duty paying documents, but the inputs may be taken into use i....