Appellate Tribunal rules Rule 57CC doesn't apply to reverse modvat credit for exempted goods.

The Appellate Tribunal CESTAT, Mumbai upheld the Commissioner's order, ruling that Rule 57CC does not apply when an assessee reverses modvat credit for inputs used in exempted goods. The Revenue's appeal was rejected.

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The Appellate Tribunal CESTAT, Mumbai ruled that if an assessee reverses modvat credit related to inputs used for exempted goods, Rule 57CC does not apply. The Commissioner's order was upheld, rejecting the Revenue's appeal.

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