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of <h1>Modvat Credit Ineligibility for Calcined Petroleum Coke and Coke Dust under Chapter 27 Clarified; Recovery Ordered.</h1> The circular addresses the eligibility of Modvat credit for calcined petroleum coke and coke dust. It clarifies that petroleum coke, classified under Chapter 27, is not eligible for Modvat credit as it is not specified under Notification No. 177/86. Although coke dust was previously considered eligible due to its use in the Iron and Steel Industries, its classification under Chapter 27 also renders it ineligible. The Board instructs that any previously granted Modvat credit for coke dust should be recovered as a 'mistake of law.' The circular modifies previous instructions and directs field formations to comply accordingly.
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