Cir. No.131/42/1995-CX, dt. 09/06/1995
- Document type
- Circular
- Reference no.
- B
- Dated
Measures to avoid misuse of Modvat credit
I am directed to refer to Board"s Circular No. 12/93-CX.8 dated 02.11.1993 issued from F.No. 267/45/93-CX.8 on the above mentioned subject and to say that while verifying the genuineness of the extracts of RG-23A Part-1 and II and the originals of duty paying documents and before the defacement of the latter the Range Superintendent shall also compare all relevant entries in RG-23A Part-1 and Part II with the duty and other particulars given on original duty paying documents (i.e. duplicate copy of the documents issued under Rule 52A/57G/57T). The purpose is to ascertain and determine the correctness of the amount of credit taken by the assessee. This verification should be completed immediately and in any case not later than 3 months after their receipt.
Sd/-
(Mallika Arya)
Under Secretary (CX.8)