Grinding Wheels: Dual Classification as Capital Goods or Inputs Affects CENVAT Credit Eligibility u/r 2(a) & 2(k).

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....CENVAT Credit - inputs or capital goods - As per Cenvat Credit Rules, capital goods, as well as input are defined under Rule 2(a) and 2(k) respectively. Perusal of both these provisions makes it clear that both the terms are relative to the use they are put to. No doubt, grinding wheels are specifically mentioned in the definition of capital goods to be known as capital goods but they can acquire the relative character of being the input.....