https://www.taxtmi.com/caselaws?id=97590 Marketability is essential for excisability: internally used interleaving trays made from defective paper boards could not be treated as separate excisable final products because no marketability evidence existed. Their non-declaration therefore did not justify denial of Modvat credit. Packing materials used as separators remained eligible inputs where their cost formed part of the final product's assessable value; Rule 57D(2) also supported their treatment as intermediate products arising during manufacture. Consequently, denial of Modvat credit and the related personal penalty were unsustainable, with consequential relief available. en-us Fri, 25 Aug 2000 00:00:00 +0530 Tue, 17 Jan 2012 13:14:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97590 Marketability is essential for excisability: internally used interleaving trays made from defective paper boards could not be treated as separate excisable final products because no marketability evidence existed. Their non-declaration therefore did not justify denial of Modvat credit. Packing materials used as separators remained eligible inputs where their cost formed part of the final product's assessable value; Rule 57D(2) also supported their treatment as intermediate products arising during manufacture. Consequently, denial of Modvat credit and the related personal penalty were unsustainable, with consequential relief available. Case-Laws Central Excise Fri, 25 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97590