Modvat credit requires accurate declaration; credit was denied where declared goods differed from the goods later claimed.

Modvat credit on capital goods was denied where the Rule 57T declaration and invoices described the goods as plastic tubes, and the assessee later claimed they were actually plastic bobbins and cones. The tribunal treated plastic tubes and plastic bobbins and cones as distinct goods falling under different tariff headings, not merely different names for the same goods. As the goods were not properly declared in the prescribed manner, credit was not admissible on the basis of a later contrary claim.

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Issues: Whether Modvat credit on the capital goods was admissible when the declaration under Rule 57T described the goods as plastic tubes, while the assessee later claimed they were actually plastic bobbins and cones.

Analysis: The declaration filed by the assessee mentioned only plastic tubes and did not describe the goods as plastic bobbins and cones. The invoices also described the goods as plastic tubes. Plastic tubes and plastic bobbins and cones were treated as distinct goods, falling under different tariff headings and not as the same goods known by different names. The assessee had not taken this stand before the adjudicating authority or the Commissioner (Appeals), and credit could not be claimed for goods not properly declared.

Conclusion: The denial of Modvat credit was upheld and the issue was decided against the assessee.

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