Modvat credit eligibility denied where inputs are destroyed before use; credit must be reversed and cases adjusted. Modvat credit on duty paid for inputs is admissible only if the inputs are actually used in manufacture; where such inputs are destroyed by fire before use, the credit is not permissible and must be reversed, and pending cases should be disposed of accordingly.
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.
Modvat credit eligibility denied where inputs are destroyed before use; credit must be reversed and cases adjusted.
Modvat credit on duty paid for inputs is admissible only if the inputs are actually used in manufacture; where such inputs are destroyed by fire before use, the credit is not permissible and must be reversed, and pending cases should be disposed of accordingly.
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