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of <h1>Tribunal Ruling: Only Excisable Capital Goods Eligible for CENVAT Credit, Excludes Cement and Steel Structures.</h1> The circular addresses the admissibility of credit on capital goods and inputs under the CENVAT Credit Rules, 2004, following a Tribunal ruling. The Tribunal determined that only excisable goods defined as 'capital goods' are eligible for credit. Items like cement and steel used for foundations or supporting structures are excluded. The ruling clarifies that amendments to the rules have a retrospective effect. Additionally, credit is not available for inputs used in repair and maintenance of capital goods. The circular instructs immediate action to safeguard revenue and resolve pending cases in line with these rulings.
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