Modvat credit on tool kits supplied with motor vehicles not admissible; earlier credits must be recovered under Rule 57A. Tool kits supplied with motor vehicles are excluded from the definition of inputs and hence are not eligible for Modvat credit under the explanation to Rule 57A; any Modvat credit wrongly allowed on such tool kits in the past is to be recovered immediately.
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 on tool kits supplied with motor vehicles not admissible; earlier credits must be recovered under Rule 57A.
Tool kits supplied with motor vehicles are excluded from the definition of inputs and hence are not eligible for Modvat credit under the explanation to Rule 57A; any Modvat credit wrongly allowed on such tool kits in the past is to be recovered immediately.
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