Modvat credit entitlement for lubricating base oils used as inputs upheld, preventing denial during the transitional pre-notification period. The Board directs that Modvat Credit shall not be denied on lubricating base oils used in the manufacture of lubricating oils and greases for the period 01.03.1997 to 31.08.1997, noting that although rule 57B initially excluded these goods, rule 57Q permitted credit when they were inputs for further manufacture and clause (v) of rule 57B(2) was subsequently deleted by Notification No.46/97 CE(NT) dated 01.09.1997.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Modvat credit entitlement for lubricating base oils used as inputs upheld, preventing denial during the transitional pre-notification period.
The Board directs that Modvat Credit shall not be denied on lubricating base oils used in the manufacture of lubricating oils and greases for the period 01.03.1997 to 31.08.1997, noting that although rule 57B initially excluded these goods, rule 57Q permitted credit when they were inputs for further manufacture and clause (v) of rule 57B(2) was subsequently deleted by Notification No.46/97 CE(NT) dated 01.09.1997.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
