Modvat credit ineligibility: specified electrodes, thinners, paper and processing chemicals do not qualify for input credit under the scheme. Modvat benefit is denied for titanium coated mild steel electrodes used as cathodes and anodes because they are fixed plant items, not consumables; thinners used as diluents in spray painting and craft paper used as interleaving are likewise ineligible; flushing chemicals, cutting oils and compressed nitrogen used as indicated are also not admissible for Modvat credit.
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 ineligibility: specified electrodes, thinners, paper and processing chemicals do not qualify for input credit under the scheme.
Modvat benefit is denied for titanium coated mild steel electrodes used as cathodes and anodes because they are fixed plant items, not consumables; thinners used as diluents in spray painting and craft paper used as interleaving are likewise ineligible; flushing chemicals, cutting oils and compressed nitrogen used as indicated are also not admissible for Modvat credit.
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