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2013 (1) TMI 731 - CESTAT MUMBAIDenial of CENVAT Credit - Whether the MS angle and HR sheet used for fabrication of storage tank are entitled for Cenvat credit or not - Held that:- As per explanation to Rule 2(k) of the Cenvat Credit Rules, 2004, storage tanks have been specified as capital goods and, therefore, inputs which are used in the manufacture of capital goods are also eligible for Cenvat credit. It is not in dispute that the steel items such as MS angles, HR sheets have not been used in the construction of storage tank which is a capital goods therefore, Cenvat credit on these MS angle and HR sheet cannot be denied. - Decided in favour of assessee.
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