https://www.taxtmi.com/caselaws?id=338967 Cenvat credit on capital goods was considered admissible where the manufacturing chain produced dutiable cotton yarn as the final excisable product. The fact that silver/cotton carded was only an intermediate captive product did not defeat credit eligibility under Rule 57Q, because the relevant test was the excisability of the finished product, not the intermediate stage. Credit could not be denied merely because the intermediate product was exempt or otherwise excluded when it had no independent marketable existence and the final product remained dutiable. The denial of credit was therefore unsustainable. en-us Wed, 25 Jan 2017 00:00:00 +0530 Fri, 17 Feb 2017 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338967 Cenvat credit on capital goods was considered admissible where the manufacturing chain produced dutiable cotton yarn as the final excisable product. The fact that silver/cotton carded was only an intermediate captive product did not defeat credit eligibility under Rule 57Q, because the relevant test was the excisability of the finished product, not the intermediate stage. Credit could not be denied merely because the intermediate product was exempt or otherwise excluded when it had no independent marketable existence and the final product remained dutiable. The denial of credit was therefore unsustainable. Case-Laws Central Excise Wed, 25 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338967