https://www.taxtmi.com/forum/issue?id=111404 If materials supplied on a returnable basis to a contractor qualify as capital goods, CENVAT credit is allowable provided records show the goods are returned within the statutory return period; failure to return within that period requires reversal of the attributable CENVAT credit, with entitlement to reclaim upon return. Additionally, where effective control or possession lies with the customer the supply may constitute a deemed sale attracting VAT. en-us Mon, 23 Jan 2017 12:00:32 +0530 Thu, 23 Jan 2025 15:56:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111404 If materials supplied on a returnable basis to a contractor qualify as capital goods, CENVAT credit is allowable provided records show the goods are returned within the statutory return period; failure to return within that period requires reversal of the attributable CENVAT credit, with entitlement to reclaim upon return. Additionally, where effective control or possession lies with the customer the supply may constitute a deemed sale attracting VAT. Discussion-Forum Service Tax Mon, 23 Jan 2017 12:00:32 +0530 https://www.taxtmi.com/forum/issue?id=111404