Modvat credit denial on foundry chemicals: credit not admissible for chemicals used in sand mould preparation. The Board addressed whether Modvat credit may be claimed on foundry chemicals like sodium silicate and foundry oils used in preparing sand moulds and stated that such Modvat credit is not admissible, providing administrative guidance to field formations and assessees on the ineligibility of these consumables for input tax credit under the Modvat scheme.
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 denial on foundry chemicals: credit not admissible for chemicals used in sand mould preparation.
The Board addressed whether Modvat credit may be claimed on foundry chemicals like sodium silicate and foundry oils used in preparing sand moulds and stated that such Modvat credit is not admissible, providing administrative guidance to field formations and assessees on the ineligibility of these consumables for input tax credit under the Modvat scheme.
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