https://www.taxtmi.com/caselaws?id=106361 Modvat credit was treated as admissible where the Rule 57G declaration and invoice particulars substantially matched the input and final product descriptions, the inputs were admittedly received and used, and the duty-paid nature of the goods was not disputed. A procedural defect in the declaration, including use of the buyer's copy of the invoice, was condonable in light of the binding circular then in force, so credit could not be denied on that basis. The demand was also held time-barred because the record showed disclosure through statutory returns and declarations, leaving no basis for the extended limitation period, and the connected penalty and confiscation were unsustainable. en-us Tue, 28 May 2002 00:00:00 +0530 Tue, 13 Mar 2012 17:57:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106361 Modvat credit was treated as admissible where the Rule 57G declaration and invoice particulars substantially matched the input and final product descriptions, the inputs were admittedly received and used, and the duty-paid nature of the goods was not disputed. A procedural defect in the declaration, including use of the buyer's copy of the invoice, was condonable in light of the binding circular then in force, so credit could not be denied on that basis. The demand was also held time-barred because the record showed disclosure through statutory returns and declarations, leaving no basis for the extended limitation period, and the connected penalty and confiscation were unsustainable. Case-Laws Customs Tue, 28 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106361