https://www.taxtmi.com/caselaws?id=114959 Duty assessed on the retail sale price of garments had to be recomputed after allowing the statutory 40% abatement available under the notification, because demand could not be sustained on a gross retail price basis without that deduction. Modvat credit on inputs and capital goods remained admissible even after the duty demand was upheld on denial of exemption, subject to production and verification of duty-paying documents to the satisfaction of the adjudicating authority. The rectification application was allowed, with recomputation of duty and consequential credit relief in favour of the assessee. en-us Wed, 02 Feb 2005 00:00:00 +0530 Tue, 22 May 2012 15:53:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114959 Duty assessed on the retail sale price of garments had to be recomputed after allowing the statutory 40% abatement available under the notification, because demand could not be sustained on a gross retail price basis without that deduction. Modvat credit on inputs and capital goods remained admissible even after the duty demand was upheld on denial of exemption, subject to production and verification of duty-paying documents to the satisfaction of the adjudicating authority. The rectification application was allowed, with recomputation of duty and consequential credit relief in favour of the assessee. Case-Laws Central Excise Wed, 02 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114959