https://www.taxtmi.com/caselaws?id=116325 Modvat credit could not be restricted under Notification No. 5/94-C.E. (N.T.) where the goods were heavy normal paraffin, because the notification applied only to paraffin wax and the two were treated as distinct. The 10% credit cap therefore did not extend to the assessee's product. The alternative objection based on high seas sale also failed, because the last buyer who files the bill of entry and completes customs formalities is treated as the importer for credit purposes. On that basis, the credit restriction was held inapplicable and full relief was available. en-us Wed, 22 Jun 2005 00:00:00 +0530 Mon, 11 Jun 2012 14:42:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116325 Modvat credit could not be restricted under Notification No. 5/94-C.E. (N.T.) where the goods were heavy normal paraffin, because the notification applied only to paraffin wax and the two were treated as distinct. The 10% credit cap therefore did not extend to the assessee's product. The alternative objection based on high seas sale also failed, because the last buyer who files the bill of entry and completes customs formalities is treated as the importer for credit purposes. On that basis, the credit restriction was held inapplicable and full relief was available. Case-Laws Central Excise Wed, 22 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116325