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of <h1>Modvat Credit Approved for Packaging Raw Materials Following CEGAT and Madras High Court Rulings; Pending Disputes to be Resolved.</h1> The circular addresses the admissibility of Modvat credit on raw materials used for packaging the final product. Initially, Modvat credit was denied based on a previous circular, as raw materials could be used for various purposes, including packaging. However, recent judgments by the Larger Bench of CEGAT and the Madras High Court clarified that packaging materials include both ready-to-use items and raw materials for making packaging. Consequently, the Board has accepted these judgments, directing that pending disputes be resolved accordingly, and withdrawing the earlier circular denying credit.
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