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of <h1>CEGAT Upholds Modvat Credit on Yarn Manufacturing Inputs.</h1> The Appellate Tribunal CEGAT, New Delhi rejected two Revenue appeals challenging the allowance of Modvat credit on specific items used in manufacturing ... Modvat on capital goods The Appellate Tribunal CEGAT, New Delhi heard two Revenue appeals against orders by the Commissioner (Appeals), Chandigarh allowing Modvat credit on specific items used in manufacturing yarn. The Tribunal rejected the Revenue appeals, citing previous decisions supporting the allowance of Modvat credit on the items.
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