Modvat credit on mould components denied where Rule 57Q did not separately cover parts or accessories of moulds.

Rule 57Q allowed Modvat credit only on capital goods expressly specified in the table to the rule, including certain chapter-based goods, their components, spares and accessories, and separately listed moulds and dies. Because the entry for moulds and dies did not extend to components or parts of moulds, such items were not independently covered by the rule. Credit therefore could not be claimed on parts or components of moulds merely on the basis that moulds themselves were specified, and the Revenue's objection succeeded.

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Issues: Whether Modvat credit was admissible on parts or components of moulds under Rule 57Q of the Central Excise Rules, 1944.

Analysis: Rule 57Q, as applicable during the relevant period, specified capital goods eligible for Modvat credit in the table below the rule. The specified entries covered certain chapter-based goods, components, spares and accessories of those goods, and separately mentioned moulds and dies. The entry for moulds and dies did not extend to their components or parts. Since components of moulds were not independently specified in the table, credit could not be allowed on such items merely because moulds themselves were included.

Conclusion: Modvat credit on parts or components of moulds was not admissible and the Revenue's objection succeeded.

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