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of <h1>Modvat Credit on Inputs for Cut Tyres and Tubes Unaffected by Exemption Status u/r 57D(1.</h1> The circular from the Central Board of Excise & Customs addresses the admissibility of Modvat credit concerning cut tyres and tubes. It clarifies that under Rule 57D(1), the credit for duty paid on inputs used in cut tyres and tubes remains unaffected, even though these items are exempt under Notification 76/86-C.E., dated February 10, 1986. This implies that the exemption status of the finished products does not alter the eligibility for Modvat credit on the inputs used in their manufacture.
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