https://www.taxtmi.com/caselaws?id=367 Goods supplied as stores for ships under construction did not fall within Notification No. 64/95-CE, which was confined to goods for consumption on board vessels of the Indian Navy or Coast Guard, so the exemption was denied. Once duty became payable, the assessable value had to be recomputed on a cum-duty basis to the extent duty was embedded in the price, and Modvat credit was allowable in principle subject to verification of duty-paying documents. Penalty was not sustained on the facts, and its restoration was declined. en-us Wed, 30 Nov 2005 00:00:00 +0530 Sun, 13 Apr 2008 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367 Goods supplied as stores for ships under construction did not fall within Notification No. 64/95-CE, which was confined to goods for consumption on board vessels of the Indian Navy or Coast Guard, so the exemption was denied. Once duty became payable, the assessable value had to be recomputed on a cum-duty basis to the extent duty was embedded in the price, and Modvat credit was allowable in principle subject to verification of duty-paying documents. Penalty was not sustained on the facts, and its restoration was declined. Case-Laws Central Excise Wed, 30 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367