time. It is stated that the import of raw materials,
intermediates, components, etc., required for the products to be
exported is permitted duty free
public notice issued in this behalf for import of raw materials, intermediate component, parts, packing materials, etc. In terms of para 7.17 of the earlier
this rule and rule 31C "raw
materials", includes components, intermediate goods, substances,
consumables, stores, newsprint purchased on or after the 1st
January
imported materials or excisable materials used in the manufacture of semis, components and intermediate products which are used in the manufacture of goods
includes raw materials, consumables (other than fuel) components, semi-finished goods, assemblies, sub-assemblies, intermediate goods, accessories, parts and packaging materials required for manufacture ... shall include raw materials, consumables (other than fuel), components, semi-finished goods, assemblies, sub-assemblies, intermediate goods, accessories, parts and packaging materials used
imported materials or excisable materials used in the manufacture of semis, components and intermediate products which are used in the manufacture of goods
consumption
or use as raw materials, component parts and inputs in the
4
manufacture of intermediate, or finished product. According
to the notification
assessee's intermediate product is an excisable one. Assessee pays excise
duty on its intermediate product viz Ammonia, which is generally paid through ... intermediate product, the assessee decided to avail such credit.
Naturally, the benefit of depreciation could not also be taken on such excise
duty component.
Thus
Maheshraj Chemicals Pvt.Ltd., ... vs The Dy.Cit.,Cent.Circle-2(1),, ... on 2 January
assessee is in the business of manufacturing of Dye, Dye Intermediates,
Pigments and Other Chemicals. The assessment was framed ... assessee strongly contends that despite of the insertion
of Section 145A components of sales tax and central excise do not form
part of sale proceeds