https://www.taxtmi.com/caselaws?id=83835 For valuation under Rule 6(b)(ii), Modvat credit on duty-paid inputs was treated as excluded from the cost of manufacture when computing assessable value. The guidance relied on indicated that, where inputs were taken under Modvat and the credit was utilised against duty on the final product, the production cost is reduced to that extent and the credit need not be added back. The matter arose at the stay stage, so the issue was assessed only on a strong prima facie basis, and duty recovery was stayed on execution of a personal bond. en-us Thu, 22 Sep 1994 00:00:00 +0530 Mon, 18 Jul 2011 12:23:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83835 For valuation under Rule 6(b)(ii), Modvat credit on duty-paid inputs was treated as excluded from the cost of manufacture when computing assessable value. The guidance relied on indicated that, where inputs were taken under Modvat and the credit was utilised against duty on the final product, the production cost is reduced to that extent and the credit need not be added back. The matter arose at the stay stage, so the issue was assessed only on a strong prima facie basis, and duty recovery was stayed on execution of a personal bond. Case-Laws Central Excise Thu, 22 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83835