Modvat credit admissibility limited to concentrated sulphuric acid consumed; deduct duty-equivalent for spent sulphuric acid recovered. Modvat credit is admissible on concentrated sulphuric acid when used in manufacture of organic surface active agents, but spent sulphuric acid is a by-product and not a manufactured or regenerated product. Therefore credit must be restricted to the duty on the concentrated acid actually consumed in sulphonation by deducting the duty-equivalent of the spent acid from the duty paid on concentrated sulphuric acid or oleum initially charged.
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Provisions expressly mentioned in the judgment/order text.
Modvat credit admissibility limited to concentrated sulphuric acid consumed; deduct duty-equivalent for spent sulphuric acid recovered.
Modvat credit is admissible on concentrated sulphuric acid when used in manufacture of organic surface active agents, but spent sulphuric acid is a by-product and not a manufactured or regenerated product. Therefore credit must be restricted to the duty on the concentrated acid actually consumed in sulphonation by deducting the duty-equivalent of the spent acid from the duty paid on concentrated sulphuric acid or oleum initially charged.
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