https://www.taxtmi.com/caselaws?id=1050 When tariff value is fixed for finished goods under Section 3(2) of the Central Excise Act, 1944, the valuation is treated as inclusive of all elements used in manufacture, including packing and processing inputs. On that basis, the assumption that the tariff value excluded the cost of packing material, anti-static oil, lubricating oil, bobbins, spools and paper tubes was rejected. Modvat credit on such inputs used in converting POY into PTY was therefore held admissible, and the departmental challenge failed. en-us Tue, 11 Jul 2006 00:00:00 +0530 Mon, 14 Apr 2008 05:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1050 When tariff value is fixed for finished goods under Section 3(2) of the Central Excise Act, 1944, the valuation is treated as inclusive of all elements used in manufacture, including packing and processing inputs. On that basis, the assumption that the tariff value excluded the cost of packing material, anti-static oil, lubricating oil, bobbins, spools and paper tubes was rejected. Modvat credit on such inputs used in converting POY into PTY was therefore held admissible, and the departmental challenge failed. Case-Laws Central Excise Tue, 11 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1050