https://www.taxtmi.com/caselaws?id=243850 Under the Modvat scheme, credit was available only for inputs genuinely intended to be used in the declared final product, and the declaration had to identify those inputs with specificity. Since the evidence showed that only Grade 5702 polyurethane resin was actually used in the lacquer based synthetic polymer, and the officers' statements did not show a real intention to use the other grades, credit on those other grades was not admissible. A mere possibility, desire, or speculative future use could not satisfy the statutory requirement of intention to use, so the Revenue's position was upheld. en-us Wed, 09 May 2012 00:00:00 +0530 Wed, 12 Feb 2014 13:30:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243850 Under the Modvat scheme, credit was available only for inputs genuinely intended to be used in the declared final product, and the declaration had to identify those inputs with specificity. Since the evidence showed that only Grade 5702 polyurethane resin was actually used in the lacquer based synthetic polymer, and the officers' statements did not show a real intention to use the other grades, credit on those other grades was not admissible. A mere possibility, desire, or speculative future use could not satisfy the statutory requirement of intention to use, so the Revenue's position was upheld. Case-Laws Central Excise Wed, 09 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243850