Modvat credit: duty on credited inputs excluded from product assessable value, departmental appeal admitted for review. The Tribunal held that duty paid on inputs for which Modvat Credit has been taken should not be added to the cost of raw material in determining the assessable value of the final product. The Department filed an appeal against this ruling, and the Department's appeal was admitted for hearing at the higher appellate level.
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Modvat credit: duty on credited inputs excluded from product assessable value, departmental appeal admitted for review.
The Tribunal held that duty paid on inputs for which Modvat Credit has been taken should not be added to the cost of raw material in determining the assessable value of the final product. The Department filed an appeal against this ruling, and the Department's appeal was admitted for hearing at the higher appellate level.
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