https://www.taxtmi.com/caselaws?id=74756 Substantive exemption credit under the notification was available where the assessee had informed the department, received duty-paid inputs, and used them in manufacture, even though the prescribed input-output ratio statement was furnished later because of practical difficulty. The delayed statement did not defeat the benefit when the substantive conditions were otherwise satisfied, and approval of the statement was treated as relating back to the original application. The claim was treated as one for credit utilisation against future clearances, not as a cash refund, and the assessee was entitled to credit in its RG 23 account for duty on future clearances of grinding wheels. en-us Tue, 07 Apr 1987 00:00:00 +0530 Fri, 10 Jun 2011 17:36:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=74756 Substantive exemption credit under the notification was available where the assessee had informed the department, received duty-paid inputs, and used them in manufacture, even though the prescribed input-output ratio statement was furnished later because of practical difficulty. The delayed statement did not defeat the benefit when the substantive conditions were otherwise satisfied, and approval of the statement was treated as relating back to the original application. The claim was treated as one for credit utilisation against future clearances, not as a cash refund, and the assessee was entitled to credit in its RG 23 account for duty on future clearances of grinding wheels. Case-Laws Central Excise Tue, 07 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=74756