Clarification regarding Notification No. 64/94-CH(NT) dated 7.11.1994
Circular No. 90/1/95-CX dated 3/1/95
Subject: Clarification regarding Notification No. 64/94-CH(NT) dated 7.11.1994
I am directed to invite a reference to the Board"s Circular No 76/76/91 dated
8th November, 1994 and fo say that the PHD Chambers of Commerri-and Industry have,
with reference thereto, brought to the Boat"s notice the following problems-
(i) Modvat is not being allowed in respect of inputs laying in stock a^ on
31.3.94 for which invoices have been issued between 1.4.94 and 11.5.94
in terms of amended rule 57H.
(ii) The period of acceptance of documents under rule 57H is being limited
only upto 31.12.94 by the concerned Asstt. Collectors.
2. Both these points, raised by the Chamber, have been examined in the Board. It is
clarified that the Board"s Circular No. 76/76/94-CX dated 8.11.1994, read with
Notification No. 64/94-CE(NT) dated 7.11.1994 was issued to enable the Asstt.
Collectors to accept the specified documents which may have been" issued up to
31.12.1994. As such the Modvat Credit Against invoices issued by the specified persons
during the period .4.1994 and 11.5.1994 in respect of inputs lying in stock with them
as on 31.3.1994 can be regularized if otherwise permissible in terms of Notification
No. 64/94-CE(NT). The Board"s Circular dated 8.11.1994 may be applied in the light of
the above clarification.
3. Accordingly as regards point (ii) it is clarified that credit under Rule 57H may be
allowed if the invoices were issued by the specified persons upto 31.12.1994.
4. Trade and officers in field may be suitably informed. Please acknowledge receipt of
this Circular.
Sd/-
(I.P. Lal)
Deputy Secretary to the Govt. of India
F.No.267/116/94-CX-8