https://www.taxtmi.com/caselaws?id=112939 Modvat credit on returnable packing material was held inadmissible where the price of the plastic drums was not included in the assessable value of the final products and the drums were returnable. The authority distinguished precedent relied on by the assessee because that case concerned packing material whose value had been included in the product value, and the Board's Circular No. 37/90 did not assist the claim on these facts. The penalty was also found excessive in the circumstances and was reduced to a lesser amount. en-us Thu, 11 Mar 2004 00:00:00 +0530 Wed, 02 May 2012 17:27:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112939 Modvat credit on returnable packing material was held inadmissible where the price of the plastic drums was not included in the assessable value of the final products and the drums were returnable. The authority distinguished precedent relied on by the assessee because that case concerned packing material whose value had been included in the product value, and the Board's Circular No. 37/90 did not assist the claim on these facts. The penalty was also found excessive in the circumstances and was reduced to a lesser amount. Case-Laws Central Excise Thu, 11 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112939