https://www.taxtmi.com/caselaws?id=122539 Under the Modvat scheme, the cost of dipping chemicals supplied free of charge by the buyer was treated as not requiring inclusion in the assessable value of dipped nylon tyre cord fabrics on the facts stated. The valuation dispute was regarded as revenue neutral because the manufacturer had already taken credit of duty paid on the dipping chemicals, so the inclusion issue at the intermediate stage did not produce a practical revenue effect. On that basis, the demand of duty, interest and penalty was held unsustainable in the case as analysed. en-us Tue, 13 Mar 2007 00:00:00 +0530 Tue, 30 Jan 2024 17:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122539 Under the Modvat scheme, the cost of dipping chemicals supplied free of charge by the buyer was treated as not requiring inclusion in the assessable value of dipped nylon tyre cord fabrics on the facts stated. The valuation dispute was regarded as revenue neutral because the manufacturer had already taken credit of duty paid on the dipping chemicals, so the inclusion issue at the intermediate stage did not produce a practical revenue effect. On that basis, the demand of duty, interest and penalty was held unsustainable in the case as analysed. Case-Laws Central Excise Tue, 13 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122539