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of <h1>Modvat Credit Denied for Oxygen and Acetylene Gases in Cutting Torches; Collectorates to Recover Credits Granted.</h1> Doubts have arisen regarding the admissibility of Modvat credit on oxygen and acetylene gases used in oxy-acetylene flames/torches for removing runners and risers on castings and for welding. The Board has examined the issue and concluded that these gases, used as consumables in cutting torches, are not used in the manufacture of finished goods. Therefore, Modvat credit for these gases should not be allowed. Collectorates currently allowing such credit must cease this practice immediately and take remedial actions to recover any credit already granted. Field formations and trade interests should be informed accordingly.
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