https://www.taxtmi.com/caselaws?id=82572 Duty demand was held time-barred for the major part of the period because the declared manufacturing process already disclosed that rubber compound formed part of insulated wires and cables, so non-filing of a separate classification list did not amount to suppression or wilful misstatement. Modvat credit was also held admissible on inputs used to make the rubber compound, since the compound was only an intermediate product incorporated into the final dutiable goods and Rule 57D preserved credit despite exemption at the intermediate stage. The demand for reversal of credit and the penalty were therefore set aside. en-us Wed, 03 Mar 1993 00:00:00 +0530 Wed, 06 Jul 2011 10:58:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82572 Duty demand was held time-barred for the major part of the period because the declared manufacturing process already disclosed that rubber compound formed part of insulated wires and cables, so non-filing of a separate classification list did not amount to suppression or wilful misstatement. Modvat credit was also held admissible on inputs used to make the rubber compound, since the compound was only an intermediate product incorporated into the final dutiable goods and Rule 57D preserved credit despite exemption at the intermediate stage. The demand for reversal of credit and the penalty were therefore set aside. Case-Laws Central Excise Wed, 03 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82572