9911796707
TMI Blog1996 (8) TMI 306X X X X Extracts X X X X X X X X Extracts X X X X ..... Modvat credit in respect of watch straps which are received back by the respondents and re-processed to different sizes. 2. The learned JDR has pleaded that respondents notified finished product is watch straps. Watch straps were cleared to the customers M/s. Titan Industries Ltd. and some of them had been returned back after clearance of the goods under Rule 57F on payment of duty as provided ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eated as an input. 4. I observe that this is a slightly unusual situation. The product which has been cleared from the factory has been returned for being made into a product of different sizes of the same category. It is not under dispute that the goods which had been cleared on payment of duty were returned on payment of duty. The character of the returned goods as duty paid goods is therefore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e that this activity cannot allowed to be done. The provisions of rules in this regard should be so interpreted in the context of Modvat that while the purpose of grant of Modvat is advanced there is at the same time no danger to the revenue. In the present case the goods received back are notified and that the final product manufactured out of the same is also notified being the same product. The ..... X X X X Extracts X X X X X X X X Extracts X X X X
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