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of <h1>Modvat Credit Approved for Thinners in Automobile Spray Painting, Subject to Notification Under Modvat Scheme.</h1> The circular discusses the decision made during the monthly Modvat meeting held in Bombay on April 22, 1989, regarding the eligibility of Modvat credit for thinners used in spray painting automobiles. The trade representatives advocated for allowing Modvat credit on thinners used for diluting paints in automobile spray painting. After review, the Central Board of Excise & Customs decided to permit Modvat credit on such thinners, provided they are notified under the Modvat scheme. Previous instructions issued in 1987 and 1988 have been modified accordingly, and relevant parties are to be informed.
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