Modvat credit rules: credit disallowed for exempt final goods but allowed when inputs inseparable with required debit before removal. Modvat credit is not available for exempt or nil-rated final products, but where dutiable and exempt final products are produced together and inputs cannot reasonably be segregated, credit on all inputs may be allowed provided the credit attributable to exempt products is debited in the credit account before removal of those exempted final products.
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 rules: credit disallowed for exempt final goods but allowed when inputs inseparable with required debit before removal.
Modvat credit is not available for exempt or nil-rated final products, but where dutiable and exempt final products are produced together and inputs cannot reasonably be segregated, credit on all inputs may be allowed provided the credit attributable to exempt products is debited in the credit account before removal of those exempted final products.
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