https://www.taxtmi.com/caselaws?id=98713 Duty paid on inputs for which Modvat credit was availed was held not to form part of the assessable value of television sets under Section 4 of the Central Excises and Salt Act, 1944. The Tribunal accepted the larger Bench view that Modvat credit does not directly reduce or alter assessable value under Section 4(1)(a), and that duty reimbursed or credited on inputs is not to be added to the final product's valuation. The earlier Supreme Court ruling on wrapping paper was treated as distinguishable on its facts and not controlling. The appeal was dismissed. en-us Fri, 25 Jul 1997 00:00:00 +0530 Sat, 21 Jan 2012 17:04:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98713 Duty paid on inputs for which Modvat credit was availed was held not to form part of the assessable value of television sets under Section 4 of the Central Excises and Salt Act, 1944. The Tribunal accepted the larger Bench view that Modvat credit does not directly reduce or alter assessable value under Section 4(1)(a), and that duty reimbursed or credited on inputs is not to be added to the final product's valuation. The earlier Supreme Court ruling on wrapping paper was treated as distinguishable on its facts and not controlling. The appeal was dismissed. Case-Laws Central Excise Fri, 25 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98713