Modvat Invoices issued by consignment agents between 1-4-1994 to 3-7-1994 - Central Excise - 165/76/95-CX

Modvat Invoices issued by consignment agents between 1-4-1994 to 3-7-1994 Circular No. 165/76/95-CX Dated 18-12-1995 [From F. No. 267/49/95-CX.8] Government of India Ministry of Finance (Department of Revenue) Central Board of Excise Customs, New Delhi Subject : Modvat on invoices issued by the consignment agents between 1-4-1994 to 3-7-1994 - Point No. 6 of the Chief Commissioner's Conference - Regarding. Representations have been received that invoices issued by consignment agents during the period 1-4-1994 to 3-7-1994 are not being considered as valid duty paying document for the purpose of availment of Modvat credit under Rule 57G of the Central Excise Rules, 1944 as they were not covered within the Notification No. 15/94-C.E. (N.T.), dated 30-3-1994. 2. In this regard Board's attention has been drawn to Rule 57H as amended vide Notification No. 64/94-C.E. (N.T.), dated 7-11-1994. The amended rule inter alia permitted acceptance of 'any invoice' or 'any document' as may be prescribed by the Central Board of Excise Customs as a valid document under Rule 57G of the Central Excise Rules, 1944. 3. It has been reported that 'consignment agents' are working on behalf of the manufacturers and are mainly responsible for custody and documentation and issue the invoice for sale of goods on their behalf. Sale proceeds are remitted in such cases to manufacturer's account and at the same time goods are duty paid. 4. The issue has been examined by the Board. 5. By virtue of the powers conferred by Rule 57H of the Central Excise Rules, 1944 the Central Board of Excise and Customs hereby specifies the invoices issued by the consignment agents as a valid document for the purpose of allowing Modvat credit subject to the following conditions :- (i) Such invoices should contain the details as referred to in the Notification No. 15/94-C.E. (N.T.), dated 30-3-1994 and Notification No. 21/94-C.E. (N.T.), dated 12-5-1994. (ii) The persons issuing such invoices/documents have got themselves registered under Rule 174 read with Rule 57G of the Central Excise Rules, 1944 consequent to the issue of Notification No. 32/94-C.E. (N.T.), dated 4-7-1994. (iii) While allowing such credit the Assistant Commissioner of Central Excise shall verify or cross-check the genuineness of the invoices issued and duty paid character of the inputs. 6. Trade and field formations may be informed suitably.