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of <h1>Supreme Court Rules Intermediate Goods Not Excisable if Made for Captive Use and Not Marketable.</h1> The circular addresses the excisability of intermediate products such as binders, resins, and glues used in manufacturing particle boards from sugarcane bagasse and other agricultural wastes. These products are developed for captive consumption, have a short shelf life, and are not marketable. The document references a Supreme Court judgment stating that intermediate goods used for captive consumption are not subject to excise duty if not marketable, even if specified in the Tariff Schedule. It instructs that all pending disputes or assessments should be resolved based on these guidelines.
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