https://www.taxtmi.com/caselaws?id=218665 Grey fabrics purchased for further processing and later cleared as processed fabrics were treated as inputs in stock, not finished goods, for deemed CENVAT credit under Notification No. 35/2003-C.E. (N.T.). Because the notification did not define the stock description, the expressions were construed in their ordinary commercial sense. The relevant distinction for deemed credit depended on the nature of the goods in stock, not on whether the claimant was registered as a dealer or manufacturer. On that basis, higher deemed credit was available where grey fabrics were purchased for processing and cleared on payment of duty as processed fabrics. en-us Thu, 15 Dec 2011 00:00:00 +0530 Thu, 22 Nov 2012 22:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218665 Grey fabrics purchased for further processing and later cleared as processed fabrics were treated as inputs in stock, not finished goods, for deemed CENVAT credit under Notification No. 35/2003-C.E. (N.T.). Because the notification did not define the stock description, the expressions were construed in their ordinary commercial sense. The relevant distinction for deemed credit depended on the nature of the goods in stock, not on whether the claimant was registered as a dealer or manufacturer. On that basis, higher deemed credit was available where grey fabrics were purchased for processing and cleared on payment of duty as processed fabrics. Case-Laws Central Excise Thu, 15 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218665