https://www.taxtmi.com/caselaws?id=82258 Approval of a classification list does not prevent reopening of a short-levy demand where wilful misstatement or suppression is alleged. A fresh declaration is required when the duty rate or exemption basis changes. Bulk-drug exemption for Lanolin Anhydrous requires actual use as a bulk drug or as an ingredient in a qualifying formulation; use as a medium base in a cosmetic preparation does not satisfy that condition. The duty demand remains sustainable from the relevant date, subject to recalculation excluding periods covered by finalised assessments. Penalty remains applicable where suppression, misstatement and ineligible exemption are established. en-us Fri, 30 Oct 1992 00:00:00 +0530 Sat, 02 Jul 2011 18:52:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82258 Approval of a classification list does not prevent reopening of a short-levy demand where wilful misstatement or suppression is alleged. A fresh declaration is required when the duty rate or exemption basis changes. Bulk-drug exemption for Lanolin Anhydrous requires actual use as a bulk drug or as an ingredient in a qualifying formulation; use as a medium base in a cosmetic preparation does not satisfy that condition. The duty demand remains sustainable from the relevant date, subject to recalculation excluding periods covered by finalised assessments. Penalty remains applicable where suppression, misstatement and ineligible exemption are established. Case-Laws Central Excise Fri, 30 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82258