1997 (12) TMI 245

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..... pondent is absent in spite of notice of hearing. We have heard Shri K. Srivastava, SDR for the appellant Collector. 2. Respondent who was manufacturing copper insulated winding wires was availing Modvat credit of CVD paid on copper. Respondent declared price less the amount equal to the Modvat credit and deduction was accordingly sought for. Assistant Collector disallowed the deduction. However, .....

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..... ollector (Appeals) that whenever Modvat credit is availed the assessable value should be less such credit . It depends on whether the benefit of Modvat to any extent had been passed on to the buyer by reducing the price proportionately. This was also indicated by the Collector (Appeals) in the last paragraph of the impugned order, where he indicated that trade discount on account of Modvat credit .....

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