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of <h1>CESTAT: Exemption denied for Fluids; Duty upheld, Penalty overturned. Modvat credit allowed.</h1> Appellate Tribunal CESTAT, New Delhi ruled that Irrigation Fluid and Peritoneal Dialysis Fluid do not qualify for exemption under Notification No. 6/2000. ... Penalty - Valuation (Central Excise) The judgment by Appellate Tribunal CESTAT, New Delhi stated that Irrigation Fluid and Peritoneal Dialysis Fluid are not eligible for exemption under Notification No. 6/2000. Duty demand confirmed, penalty set aside. Modvat credit on inputs and valuation allowed. Sale price to be treated as cum-duty. Revenue directed to allow Modvat credit and re-determine duty payable.
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