M/S.MENTHA & ALLIED PRODUCTS LTD. vs COLLECTOR OF CENTRAL EXCISE,MEERUT

The Supreme Court held that the appellant, a manufacturer of Menthol, was not entitled to the exemption under Notification No. 31/88-CE as Menthol did not qualify as a 'bulk drug' under the Drugs and Cosmetics Act, 1940. The Court emphasized that the definition of 'bulk drug' requires the substance to be used as an ingredient in formulations, which Menthol was not. Consequently, the Court upheld the imposition of excise duty and penalty by the Collector, affirming the Tribunal's decision.