https://www.taxtmi.com/caselaws?id=82683 Modvat credit was treated as admissible on synthetic rubber and rubber chemicals used to make rubber compound, because the compound formed a component of insulated wires and cables and was used in relation to manufacture of the dutiable final product. The fact that the compound was separately manufactured, or that an intermediate exempt product emerged, did not by itself defeat credit under Rule 57D. On the facts stated, the extended period and penalty were also not justified because the inputs had been declared and suppression was not made out. The Department's reference application was rejected as misconceived in light of the Tribunal's final order. en-us Mon, 23 Aug 1993 00:00:00 +0530 Wed, 06 Jul 2011 17:28:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82683 Modvat credit was treated as admissible on synthetic rubber and rubber chemicals used to make rubber compound, because the compound formed a component of insulated wires and cables and was used in relation to manufacture of the dutiable final product. The fact that the compound was separately manufactured, or that an intermediate exempt product emerged, did not by itself defeat credit under Rule 57D. On the facts stated, the extended period and penalty were also not justified because the inputs had been declared and suppression was not made out. The Department's reference application was rejected as misconceived in light of the Tribunal's final order. Case-Laws Central Excise Mon, 23 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82683