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Issues: Whether CENVAT credit was admissible on Kodak branded film rolls supplied free of cost and packed along with cameras in a combi-pack.
Analysis: The film rolls were treated as accessories to the camera, and once so treated they fell within the ambit of input under Rule 2(k) of the CENVAT Credit Rules, 2004. The value of the film rolls formed part of the assessable value of the combi-pack cleared by the assessee. The packing of the camera with the film roll in a bundle or combi-pack also supported the conclusion that the goods were being cleared in a marketable form, and the earlier view treating film rolls as accessories was followed.
Conclusion: CENVAT credit on the film rolls was admissible and the demand, interest and penalty were unsustainable.
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