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SC: Consumer of capital goods cannot get the excise heading changed to claim Modvat credit |
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| December, 03rd 2007 |
| The Supreme Court observed last week that a consumer of capital goods could not get the excise heading changed to claim Modvat credit after the manufacturer and the excise authorities classified the goods in a different category for tariff. |
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| The court, thus, dismissed the appeal of Sarvesh Refractories Ltd against the ruling of the Excise and Service Tax Appellate Tribunal. The firm bought 'loadall', a material handling equipment like a forklift truck or crane, from Escorts JCB Ltd. The cost included the excise duty. |
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| The firm then claimed Modvat credit, which was rejected by the authorities. After several appeals, the Supreme Court held that tax authorities were right. | |
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