https://www.taxtmi.com/caselaws?id=416 Capital goods used exclusively for job-work manufacture of piston valves and cleared without duty to the principal manufacturer were not treated as exempted goods under Rule 57R of the Central Excise Rules, 1944. The decisive point was that duty was ultimately discharged when the principal manufacturer cleared the final product, and the assessable value of the job-worked intermediate goods formed part of that dutiable final product. On that basis, the intermediate goods were not regarded as wholly exempt or chargeable at nil rate, so Modvat credit was not denied. The assessee accordingly succeeded. en-us Wed, 07 Dec 2005 00:00:00 +0530 Mon, 01 Apr 2024 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416 Capital goods used exclusively for job-work manufacture of piston valves and cleared without duty to the principal manufacturer were not treated as exempted goods under Rule 57R of the Central Excise Rules, 1944. The decisive point was that duty was ultimately discharged when the principal manufacturer cleared the final product, and the assessable value of the job-worked intermediate goods formed part of that dutiable final product. On that basis, the intermediate goods were not regarded as wholly exempt or chargeable at nil rate, so Modvat credit was not denied. The assessee accordingly succeeded. Case-Laws Central Excise Wed, 07 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416