https://www.taxtmi.com/caselaws?id=85703 Modvat credit on inputs used in polyurethane foam could not be denied under Rule 57C merely because the end product, polyurethane sandwich panels, was exempt from duty. The department had accepted the classification list, treated the foam sheets as a dutiable intermediate product, and collected duty on that basis. In these circumstances, it could not contend that the foam had no separate existence only to refuse credit, while simultaneously treating it as duty-paid for levy purposes. Since duty was being collected on the foam sheets, they were the relevant final goods for Rule 57C, and the assessee was entitled to Modvat credit and relief. en-us Thu, 08 Aug 1996 00:00:00 +0530 Sat, 06 Aug 2011 16:39:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85703 Modvat credit on inputs used in polyurethane foam could not be denied under Rule 57C merely because the end product, polyurethane sandwich panels, was exempt from duty. The department had accepted the classification list, treated the foam sheets as a dutiable intermediate product, and collected duty on that basis. In these circumstances, it could not contend that the foam had no separate existence only to refuse credit, while simultaneously treating it as duty-paid for levy purposes. Since duty was being collected on the foam sheets, they were the relevant final goods for Rule 57C, and the assessee was entitled to Modvat credit and relief. Case-Laws Central Excise Thu, 08 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85703