https://www.taxtmi.com/caselaws?id=74294 Rule 57F(3) permitted Modvat credit on duty-paid inputs to be used for payment of duty on the final products manufactured from those inputs. The scheme did not require one-to-one correlation between particular inputs and final products, and accumulated credit was not barred merely because the duty on the finished goods was lower than the duty element on the inputs. On that basis, reversal of credit and the related penalty were unsustainable, and the appeal succeeded. en-us Fri, 16 Dec 1988 00:00:00 +0530 Tue, 07 Jun 2011 18:53:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=74294 Rule 57F(3) permitted Modvat credit on duty-paid inputs to be used for payment of duty on the final products manufactured from those inputs. The scheme did not require one-to-one correlation between particular inputs and final products, and accumulated credit was not barred merely because the duty on the finished goods was lower than the duty element on the inputs. On that basis, reversal of credit and the related penalty were unsustainable, and the appeal succeeded. Case-Laws Central Excise Fri, 16 Dec 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=74294