https://www.taxtmi.com/caselaws?id=344196 Cenvat or Modvat credit on capital goods is not lost merely because the prescribed declaration was not filed, where receipt in the factory and use in manufacture of taxable final products are established. Imported capital goods and accessories may also qualify even if original invoices are unavailable, if duty payment can be verified from customs records and the goods were received for use in manufacture. The commentary further notes that commencement of production is not a precondition to credit where the goods are meant for manufacturing use, and that one-to-one correlation between each item received and each final product is not required unless the statute specifically mandates it. Procedural irregularities alone do not defeat substantive credit entitlement. en-us Thu, 11 May 2017 00:00:00 +0530 Sat, 10 Jun 2017 05:46:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344196 Cenvat or Modvat credit on capital goods is not lost merely because the prescribed declaration was not filed, where receipt in the factory and use in manufacture of taxable final products are established. Imported capital goods and accessories may also qualify even if original invoices are unavailable, if duty payment can be verified from customs records and the goods were received for use in manufacture. The commentary further notes that commencement of production is not a precondition to credit where the goods are meant for manufacturing use, and that one-to-one correlation between each item received and each final product is not required unless the statute specifically mandates it. Procedural irregularities alone do not defeat substantive credit entitlement. Case-Laws Central Excise Thu, 11 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344196