Utilisation of Modvat credit: excess credit for inputs used in thicker copper wires cannot be applied to finer wires. Unutilised Modvat credit on inputs used to manufacture copper wires thicker than 2 mm cannot be utilised towards payment of excise duty on copper wires finer than 2 mm, because credit is allowable only for duty on the final product in which the input was actually used; excess credit from thicker-wire manufacture is not permitted for finer-wire duty.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Utilisation of Modvat credit: excess credit for inputs used in thicker copper wires cannot be applied to finer wires.
Unutilised Modvat credit on inputs used to manufacture copper wires thicker than 2 mm cannot be utilised towards payment of excise duty on copper wires finer than 2 mm, because credit is allowable only for duty on the final product in which the input was actually used; excess credit from thicker-wire manufacture is not permitted for finer-wire duty.
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