https://www.taxtmi.com/caselaws?id=1801 Modvat credit was admissible on packing materials and antistatic oil used in manufacture of texturised yarn because duty was assessed on a tariff value fixed by notification. The tariff value substituted the assessable value under the valuation scheme, but there was no statutory basis to presume that the value of packing materials was automatically excluded from that tariff value. In the absence of a specific provision in the statute or notification, denial of credit on that assumption was not sustainable. The Department's challenge therefore failed, and credit on both items remained allowable. en-us Fri, 27 Apr 2007 00:00:00 +0530 Tue, 15 Apr 2008 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1801 Modvat credit was admissible on packing materials and antistatic oil used in manufacture of texturised yarn because duty was assessed on a tariff value fixed by notification. The tariff value substituted the assessable value under the valuation scheme, but there was no statutory basis to presume that the value of packing materials was automatically excluded from that tariff value. In the absence of a specific provision in the statute or notification, denial of credit on that assumption was not sustainable. The Department's challenge therefore failed, and credit on both items remained allowable. Case-Laws Central Excise Fri, 27 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1801