Rule 16 of Central Excise Rule 2002

We are a manufacturer of Excisable goods, say A. We purchase another excisable semi-finihed goods other than our manufactured item, say B, with necessary duty payment. After necessary reprocessing and value addition the same were cleared under authorised documents and on payment of full duty. Our manufactuing facilities doesnot permit us to manufacture the Item B. Are we eligible to take the Cenvat Credit on B under Rule 16 of Central Excise Rule 2002 or under any other Rules. Please advise.