https://www.taxtmi.com/caselaws?id=428955 Cenvat credit was held admissible on HR Sheets, HR Plates and MS Rods used to fabricate Steel Formers that operated as furnace liners and were consumed during manufacture of billets. The Tribunal applied the settled test that an item qualifies as an input if it is used in relation to manufacture and is essential to the process, even if it does not remain in the finished product. It treated the impugned goods as functionally connected with manufacture because they were used to make a consumable item indispensable to the induction furnace process. The denial of credit, and the consequential demand and penalty, were therefore unsustainable. en-us Thu, 13 Oct 2022 00:00:00 +0530 Fri, 14 Oct 2022 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428955 Cenvat credit was held admissible on HR Sheets, HR Plates and MS Rods used to fabricate Steel Formers that operated as furnace liners and were consumed during manufacture of billets. The Tribunal applied the settled test that an item qualifies as an input if it is used in relation to manufacture and is essential to the process, even if it does not remain in the finished product. It treated the impugned goods as functionally connected with manufacture because they were used to make a consumable item indispensable to the induction furnace process. The denial of credit, and the consequential demand and penalty, were therefore unsustainable. Case-Laws Central Excise Thu, 13 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428955