TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Modvat Credit Allowed for Transformer Oil in Manufacturing if Included in Final Product Value, per Rule 57A Clarification.</h1> The circular addresses the issue of Modvat Credit denial on transformer oil used in manufacturing transformers. Concerns were raised that transformer oil could not be considered an input under Rule 57A of the Central Excise Rules, 1944. After examination, it was determined that since transformer oil is essential for the functioning of transformers, Modvat Credit is permissible if the oil's value is included in the final product's value and is present in the transformers at the time of factory clearance. Pending disputes should be resolved based on this clarification.
TaxTMI 
TaxTMI 
