2011 (11) TMI 560

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....ondent. ORDER The respondent was engaged in the manufacture of Texturised Yarn and had availed modvat credit on Paper Tubes and Spin Finish Oil, Cones, etc., used as packing materials. Proceedings were initiated since the department entertained a view that modvat credit is not admissible on the packing materials as the value of the same is not included which was the requirement for allowing ....

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....the view that tariff value are fixed by the Govt. of India on the basis of relevant criteria having a nexus to the value of the goods. He has also stated that the Apex Court observed that such value may be derived with reference to wholesale price, retail price or average price at which the goods are sold by the manufacturer concerned or even by the price at which the goods are sold by any particu....