Modvat credit admissibility: credit on inputs in cut tyres and tubes remains unaffected despite exemption status. Under Rule 57D(1), credit for duty paid on inputs embodied in cut tyres and tubes cannot be varied even where those goods are exempted under Notification 76/86-C.E.; the exemption does not alter entitlement to Modvat credit attributable to such inputs.
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Provisions expressly mentioned in the judgment/order text.
Modvat credit admissibility: credit on inputs in cut tyres and tubes remains unaffected despite exemption status.
Under Rule 57D(1), credit for duty paid on inputs embodied in cut tyres and tubes cannot be varied even where those goods are exempted under Notification 76/86-C.E.; the exemption does not alter entitlement to Modvat credit attributable to such inputs.
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