https://www.taxtmi.com/caselaws?id=85716 Modvat credit is available where an assessee applied for a central excise licence before receiving inputs, even if the formal licence was granted later. The licensing proviso treats the pending applicant as entitled to take credit for inputs received after the application. Inputs used in relation to manufacture need not become part of the finished product to qualify for credit. Lancing pipes and foundry flux nozzles qualify where they are production consumables rather than machinery, equipment, tools or appliances. The departmental objection to credit on both grounds was rejected, sustaining the allowance of Modvat credit. en-us Mon, 12 Aug 1996 00:00:00 +0530 Sat, 06 Aug 2011 17:05:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85716 Modvat credit is available where an assessee applied for a central excise licence before receiving inputs, even if the formal licence was granted later. The licensing proviso treats the pending applicant as entitled to take credit for inputs received after the application. Inputs used in relation to manufacture need not become part of the finished product to qualify for credit. Lancing pipes and foundry flux nozzles qualify where they are production consumables rather than machinery, equipment, tools or appliances. The departmental objection to credit on both grounds was rejected, sustaining the allowance of Modvat credit. Case-Laws Central Excise Mon, 12 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85716