Modvat credit eligibility: components, spares and accessories qualify regardless of their tariff classification when used with specified capital goods. Credit on components, spares and accessories used with specified capital goods is allowed irrespective of the tariff classification of those parts. The separate descriptive entry for components, spares and accessories creates an eligibility category distinct from the chapter-based classification of capital goods, so any parts intended for use with the specified capital goods qualify for Modvat credit even if classifiable under different chapters.
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 eligibility: components, spares and accessories qualify regardless of their tariff classification when used with specified capital goods.
Credit on components, spares and accessories used with specified capital goods is allowed irrespective of the tariff classification of those parts. The separate descriptive entry for components, spares and accessories creates an eligibility category distinct from the chapter-based classification of capital goods, so any parts intended for use with the specified capital goods qualify for Modvat credit even if classifiable under different chapters.
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