https://www.taxtmi.com/caselaws?id=106068 Modvat credit was treated as available where the disputed items were used in relation to manufacture and satisfied the test of inputs under Rule 57A, even if they did not qualify as capital goods under Rule 57Q. Hot Tops with APC Powder, Foundry Fluxes and Chemicals were accepted as eligible inputs, and Grinding Wheel, though not upheld as capital goods, remained creditable as an input on binding precedent. The argument that the relevant notifications operated only prospectively was rejected in light of the settled Supreme Court position. The operative effect was that credit could not be denied merely because capital goods treatment failed when input eligibility was otherwise established. en-us Wed, 07 Nov 2001 00:00:00 +0530 Mon, 12 Mar 2012 15:35:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106068 Modvat credit was treated as available where the disputed items were used in relation to manufacture and satisfied the test of inputs under Rule 57A, even if they did not qualify as capital goods under Rule 57Q. Hot Tops with APC Powder, Foundry Fluxes and Chemicals were accepted as eligible inputs, and Grinding Wheel, though not upheld as capital goods, remained creditable as an input on binding precedent. The argument that the relevant notifications operated only prospectively was rejected in light of the settled Supreme Court position. The operative effect was that credit could not be denied merely because capital goods treatment failed when input eligibility was otherwise established. Case-Laws Central Excise Wed, 07 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106068