https://www.taxtmi.com/caselaws?id=91904 Iron and steel sheets used as raw materials for manufacturing MS tanks and MS moulds did not qualify as capital goods under Rule 57Q because they did not fit within the statutory description of machinery, plant, equipment, or their components, spares, or accessories. On that basis, Modvat credit was held inadmissible on the sheets, as the goods were used in construction rather than as capital goods themselves. en-us Wed, 14 Jul 1999 00:00:00 +0530 Fri, 21 Oct 2011 17:35:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=91904 Iron and steel sheets used as raw materials for manufacturing MS tanks and MS moulds did not qualify as capital goods under Rule 57Q because they did not fit within the statutory description of machinery, plant, equipment, or their components, spares, or accessories. On that basis, Modvat credit was held inadmissible on the sheets, as the goods were used in construction rather than as capital goods themselves. Case-Laws Central Excise Wed, 14 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=91904