https://www.taxtmi.com/caselaws?id=52056 Where Modvat credit on common inputs used for exempted and dutiable goods was fully reversed, the timing of reversal was immaterial and the demand could not be sustained. A sale of pens at Rs. 99 per piece was treated as a genuine agreed commercial price, not a discount device, and the exemption value limit under Notification No. 4/97 was not crossed because the relevant valuation excluded sales tax. As the duty demands failed, the consequential penalty and interest also could not survive and were set aside. en-us Thu, 24 Jul 2003 00:00:00 +0530 Thu, 30 Sep 2010 14:57:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52056 Where Modvat credit on common inputs used for exempted and dutiable goods was fully reversed, the timing of reversal was immaterial and the demand could not be sustained. A sale of pens at Rs. 99 per piece was treated as a genuine agreed commercial price, not a discount device, and the exemption value limit under Notification No. 4/97 was not crossed because the relevant valuation excluded sales tax. As the duty demands failed, the consequential penalty and interest also could not survive and were set aside. Case-Laws Central Excise Thu, 24 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52056