Dear Sir,
We are a paint mfg co, pleas advise whether we can avail cenvat credit of the materials i.e. Inputs used for assembling storage tank which is used for storage of solvents, water used in the manufacturing process. Please give us any references regarding this.
Paint Manufacturer Seeks Cenvat Credit for Storage Tank Inputs; Cites Capital Goods Status Under Cenvat Credit Rules, 2004. A paint manufacturing company inquired about the eligibility to avail Cenvat credit on inputs used for assembling a storage tank essential for their manufacturing process. Respondents suggested that since the storage tank qualifies as capital goods under the Cenvat Credit Rules, 2004, credit should be admissible. They referenced a Board circular and a Supreme Court judgment supporting this view. Additional cases and judgments were cited to reinforce the eligibility for credit, emphasizing the importance of reviewing specific legal precedents and circulars to confirm applicability in different scenarios. (AI Summary)
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