Modvat credit admissibility on oxygen and acetylene gases permitted for cutting and welding, overriding prior disallowance. Modvat credit on oxygen and acetylene gases used for cutting runners and risers in castings and for welding purposes is permitted; this decision, taken ... Summary
Modvat credit admissibility on oxygen and acetylene gases permitted for cutting and welding, overriding prior disallowance.
Modvat credit on oxygen and acetylene gases used for cutting runners and risers in castings and for welding purposes is permitted; this decision, taken after technical consultation that these gases are consumables in the manufacturing process, supersedes the Board's earlier instruction disallowing such credit and requires pending cases to be decided on the basis of the revised instruction.
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