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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..... ibility 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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..... scribes 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 which .....

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..... final products and Modvat credit would be permissible without reference to value of the input in the assessable value of the final products. Board's instructions issued vide Circular No. 19/88 dated 28-6-1988 therefore appear to be correct and need no review." Audit objections may be settled accordingly. Trade and field formations may be advised suitably. - Circular - Trade Notice - Public No .....

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