https://www.taxtmi.com/caselaws?id=76585 Modvat credit was allowed on inputs used to manufacture exempt final products that were exported without payment of duty, because export removal did not justify denial of credit merely on the ground that the goods were exempt in the domestic market. The Tribunal distinguished cases involving exempt goods retained or cleared within India and accepted that the export character of the clearances preserved credit eligibility. On that basis, the reversal of credit was unwarranted, and the associated demand, interest, and penalty could not survive. en-us Thu, 29 Oct 2009 00:00:00 +0530 Wed, 07 Jul 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76585 Modvat credit was allowed on inputs used to manufacture exempt final products that were exported without payment of duty, because export removal did not justify denial of credit merely on the ground that the goods were exempt in the domestic market. The Tribunal distinguished cases involving exempt goods retained or cleared within India and accepted that the export character of the clearances preserved credit eligibility. On that basis, the reversal of credit was unwarranted, and the associated demand, interest, and penalty could not survive. Case-Laws Central Excise Thu, 29 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76585