TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
TaxTMI 
Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Modvat Credit Eligibility for Thinners in Paints Clarified u/r 57A; Not Applicable if Classified Under Chapter 27.</h1> The circular from the Central Board of Excise and Customs addresses the admissibility of Modvat credit for thinners used in paints. It clarifies that thinners used in the manufacture of paints generally qualify for Modvat credit under Rule 57A of the Modvat Rules. However, if thinners are classified under Chapter 27 of the Central Excise Tariff due to their composition, they are not eligible for Modvat credit. The circular references a previous communication and instructs that past cases be resolved in accordance with this clarification. Recipients are requested to acknowledge receipt of the letter.
TaxTMI 
