https://www.taxtmi.com/caselaws?id=83629 The Tribunal ruled that foundry fluxes used in the production of valves and corks are eligible inputs for Modvat credit, as they are consumed during the manufacturing process. The Tribunal emphasized that items like sand molds and cores, which are destroyed during use and not sold in the market, can still qualify for Modvat credit as they indirectly contribute to the final output. The Tribunal concluded that the legal position on marketability had been settled in previous judgments, dismissing the Reference Application without the need for a High Court reference. en-us Mon, 17 Oct 1994 00:00:00 +0530 Thu, 14 Jul 2011 16:34:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83629 The Tribunal ruled that foundry fluxes used in the production of valves and corks are eligible inputs for Modvat credit, as they are consumed during the manufacturing process. The Tribunal emphasized that items like sand molds and cores, which are destroyed during use and not sold in the market, can still qualify for Modvat credit as they indirectly contribute to the final output. The Tribunal concluded that the legal position on marketability had been settled in previous judgments, dismissing the Reference Application without the need for a High Court reference. Case-Laws Central Excise Mon, 17 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83629