https://www.taxtmi.com/caselaws?id=83306 Modvat credit was recognised for inputs used to manufacture packing and wrapping paper that was captively consumed in packing the final product, because the intermediate material formed part of the manufacturing chain and Rule 57D(2) protected such exempt intermediate goods. The contrary distinction between final and intermediate product was not accepted, and the disallowance of credit was therefore unsustainable. On limitation, the demand could not be extended because the declarations disclosed the relevant inputs and exemption position, leaving no suppression, misstatement, or wilful contravention to justify the extended period. The penalty and demand were accordingly unsustainable. en-us Thu, 05 May 1994 00:00:00 +0530 Tue, 12 Jul 2011 16:12:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83306 Modvat credit was recognised for inputs used to manufacture packing and wrapping paper that was captively consumed in packing the final product, because the intermediate material formed part of the manufacturing chain and Rule 57D(2) protected such exempt intermediate goods. The contrary distinction between final and intermediate product was not accepted, and the disallowance of credit was therefore unsustainable. On limitation, the demand could not be extended because the declarations disclosed the relevant inputs and exemption position, leaving no suppression, misstatement, or wilful contravention to justify the extended period. The penalty and demand were accordingly unsustainable. Case-Laws Central Excise Thu, 05 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83306