https://www.taxtmi.com/caselaws?id=260229 Modvat/CENVAT credit on duty-paid moulds used in manufacture cannot be denied solely because the user does not own or directly purchase them. Before the 1994 amendment, the Central Excise Rules restricted credit for capital goods acquired otherwise than by direct purchase where ownership remained with another person. The amended Rule 57R specifically addressed lease, hire-purchase and financing-company loans and did not retain a general ownership requirement. Where moulds are duty-paid capital goods supplied by the original manufacturer and used in manufacturing, credit remains available if other statutory conditions are met. en-us Mon, 16 Feb 2015 00:00:00 +0530 Mon, 12 Oct 2015 15:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260229 Modvat/CENVAT credit on duty-paid moulds used in manufacture cannot be denied solely because the user does not own or directly purchase them. Before the 1994 amendment, the Central Excise Rules restricted credit for capital goods acquired otherwise than by direct purchase where ownership remained with another person. The amended Rule 57R specifically addressed lease, hire-purchase and financing-company loans and did not retain a general ownership requirement. Where moulds are duty-paid capital goods supplied by the original manufacturer and used in manufacturing, credit remains available if other statutory conditions are met. Case-Laws Central Excise Mon, 16 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260229