https://www.taxtmi.com/caselaws?id=114690 Bulk medicinal preparations awaiting filling, packing and labelling were not yet finished and marketable goods, so their non-entry in RG-1 could not be treated as a shortage of finished stock. The applicable excise trade notices recognised RG-1 accounting only when goods reached the finished stage, and the Drugs & Cosmetics Act required prescribed labelling before sale or distribution. On that basis, the alleged shortages were not proved as finished goods shortages; the reconciliation statement and voluntary payment on the admitted shortage further supported the assessee. The demand of duty, with consequential penalty and interest, was therefore set aside. en-us Tue, 23 Nov 2004 00:00:00 +0530 Fri, 18 May 2012 18:54:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114690 Bulk medicinal preparations awaiting filling, packing and labelling were not yet finished and marketable goods, so their non-entry in RG-1 could not be treated as a shortage of finished stock. The applicable excise trade notices recognised RG-1 accounting only when goods reached the finished stage, and the Drugs & Cosmetics Act required prescribed labelling before sale or distribution. On that basis, the alleged shortages were not proved as finished goods shortages; the reconciliation statement and voluntary payment on the admitted shortage further supported the assessee. The demand of duty, with consequential penalty and interest, was therefore set aside. Case-Laws Central Excise Tue, 23 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114690