Modvat credit inadmissibility clarified: inputs for manufacture of sand moulds treated as excisable machinery components and denied. Admissibility of Modvat credit on materials used to make sand and ceramic moulds for casting was considered; the Board concluded sand moulds are excisable products forming part of casting machinery and therefore do not qualify as inputs, so Modvat credit on inputs used to manufacture such moulds is not admissible, and field formations and trade are to be informed.
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Provisions expressly mentioned in the judgment/order text.
Modvat credit inadmissibility clarified: inputs for manufacture of sand moulds treated as excisable machinery components and denied.
Admissibility of Modvat credit on materials used to make sand and ceramic moulds for casting was considered; the Board concluded sand moulds are excisable products forming part of casting machinery and therefore do not qualify as inputs, so Modvat credit on inputs used to manufacture such moulds is not admissible, and field formations and trade are to be informed.
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