Admissibility of Modvat credit on Acetone used in the manufacture of Acetylene - Clarification regarding

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..... Finance (Department of Revenue) Central Board of Excise Customs, New Delhi Subject : Admissibility of Modvat credit on Acetone used in the manufacture of Acetylene - Clarification regarding I am directed to say that doubts have been raised as to whether Modvat credit would be admissible on the acetone which is used as a solvent for dissolving acetylene for transporting and marketin .....

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..... ufacture of Acetylene. 3. In view of the above, it has been decided that Modvat credit could be allowed on acetone which is used for storing acetylene gas and the credit thereon can be used towards payment of duty on dissolving acetylene. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com .....

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