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of <h1>Modvat Credit Admissible on Cylinders for Fire Extinguishers Manufacturing, per CBEC Clarification, Not Exempt u/r 57A.</h1> The circular addresses the admissibility of Modvat Credit on cylinders used in manufacturing fire extinguishers. The Central Board of Excise & Customs clarifies that Modvat Credit is applicable to the duties paid on these cylinders. Since the cylinders are integral to the manufacture and their value is included in the assessable value of the fire extinguishers, they do not fall under the exceptions outlined in Explanation (iv) to Rule 57A. Consequently, Modvat Credit is deemed admissible for these cylinders, and this clarification should be communicated to relevant field formations.
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