Modvat credit to be utilised for inputs actually used - In the case of aerated water - Clarification regarding

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..... of Revenue) Central Board of Excise & Customs, New Delhi Subject : Modvat credit to be utilised for inputs actually used - In the case of aerated water - Clarification regarding. I am directed to say that doubts have been raised as to whether with the withdrawal of Modvat credit in respect of aerated water vide Notification No. 203/87-C.E. w.e.f. 1-10-1987, duty is required to be recovered on i .....

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..... e, where the manufacturer opts to clear the inputs for home consumption or export, instead of using in the manufacture of the final product, then also duty will have to be paid on these inputs as if these inputs were manufactured in his factory itself. It has been decided that the duty on unutilised inputs lying in stock as on 1-10-1987 should be recovered either through the credit balance if any .....

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