2006 (7) TMI 72 - AT - Central Excise

Cenvat/Modvat - Tariff value fixed for finished goods under Section 3(2) of CEA, 1944 - Credit admissible in respect of packing material, antiseptic oil lubricating oil bobbins sports paper tubes and similar other inputs

Summary

The Appellate Tribunal CESTAT, Mumbai rejected the department's appeals regarding Modvat credit for packing material and other inputs used in the conversion of POY into PTY. The lower appellate authority's decision to allow the Modvat credit was upheld, stating that tariff value includes the value of all elements in the finished goods.