Utilisation of Credit of specified duties under Modvat Scheme towards payment of duty for Special Excise duty prior to issue of Notification No. 138/88-C.E., dated 8-4-1988 - Central Excise - 267/58/89-CX.8

Utilisation of Credit of specified duties under Modvat Scheme towards payment of duty for Special Excise duty prior to issue of Notification No. 138/88-C.E., dated 8-4-1988 F. No. 267/58/89-CX.8 Dated 12-5-1989 Government of India Ministry of Finance (Department of Revenue) Central Board of Excise Customs, New Delhi Subject : Utilisation of Credit of specified duties under Modvat Scheme towards payment of duty for Special Excise duty prior to issue of Notification No. 138/88-C.E., dated 8-4-1988 . I am directed to refer to your letter D.O. C. No. V(1)Audit/AGUP/ AIR/395/88/7332, dated 14-12-1988 on the above subject and to clarify that Modvat credit of specified duties cannot be permitted for utilisation for payment of Speical Excise duty during the period 1-3-1988 to 7-4-1988 as Notification No. 138.88 is applicise w.e.f. 8-4-1988 only. The matter may therefore be decided accordingly.