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modvat credit

This query is : Resolved 

09 March 2010 friends provide me solution on this:
excise duty paid on raw materials for which modvat credit has availed, wheather excise duty paid on which credit has not been availed should be included in valuation of inventories or not.

10 March 2010 The recoverable part would have been availed and no recoverable part nopt claimed. On part where no credit claimed the inventory wouldbe at gross value.


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