1996 (12) TMI 247

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..... - In this appeal the department has initiated proceedings on the ground that the appellants have availed Modvat credit on inputs which have been used in the manufacture of their final product namely stearing gear assembly. In the process of manufacture, sub-assemblies are made. The department held that these sub-assemblies themselves are finished products and therefore the appellants having no....

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.... which had gone into the manufacture of sub-assembly which have been cleared subsequently on payment of duty which would show that they are taking credit on a final product not included in the declaration and it was irregular. It is this quantum of credit the department wants to reduce and recover. 4. Submissions have been carefully considered. The issue is whether the credit of input duty t....