https://www.taxtmi.com/caselaws?id=82737 MODVAT credit was held inadmissible on paints and varnishes returned by customers as rejected finished goods and sent only for re-grinding and re-conditioning, because Rule 57A applies only to inputs used in or in relation to manufacture of a final product and the process did not create a new commercially distinct product. The Revenue's appeal on credit was allowed. On penalty, no penalty was considered necessary in the same controversy, so the Rs. 1,000 penalty was set aside in favour of the assessee. en-us Wed, 12 Feb 1992 00:00:00 +0530 Thu, 07 Jul 2011 10:43:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82737 MODVAT credit was held inadmissible on paints and varnishes returned by customers as rejected finished goods and sent only for re-grinding and re-conditioning, because Rule 57A applies only to inputs used in or in relation to manufacture of a final product and the process did not create a new commercially distinct product. The Revenue's appeal on credit was allowed. On penalty, no penalty was considered necessary in the same controversy, so the Rs. 1,000 penalty was set aside in favour of the assessee. Case-Laws Central Excise Wed, 12 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82737