https://www.taxtmi.com/caselaws?id=86894 Punched remnants of silver strips retained after fabrication were held not to be waste and scrap under sub-heading 7101.80 because they had merely lost their strip form, not their purity or intrinsic value. As the remnants could be remelted and rerolled into silver strips and still remained marketable pieces of silver, they did not satisfy the ordinary meaning of scrap as material of little or no value. On that basis, the exemption under Notification No. 53/86 remained available, since the goods were not correctly classifiable as waste and scrap. en-us Tue, 08 Jul 1997 00:00:00 +0530 Mon, 29 Aug 2011 11:55:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86894 Punched remnants of silver strips retained after fabrication were held not to be waste and scrap under sub-heading 7101.80 because they had merely lost their strip form, not their purity or intrinsic value. As the remnants could be remelted and rerolled into silver strips and still remained marketable pieces of silver, they did not satisfy the ordinary meaning of scrap as material of little or no value. On that basis, the exemption under Notification No. 53/86 remained available, since the goods were not correctly classifiable as waste and scrap. Case-Laws Central Excise Tue, 08 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86894