https://www.taxtmi.com/caselaws?id=81744 MODVAT credit on notified inputs under Rule 57A was not limited to the exact quantity physically consumed in manufacture, and the scheme did not require declaration of a precise consumption percentage. The credit operated as a pool, so one-to-one correlation between input and output was not mandatory. Rule 57F did not require reversal merely because part of the input emerged as spent acid or waste during processing. On that basis, credit taken on the entire input was treated as valid and restriction of credit to 49% was not sustainable. en-us Wed, 04 Dec 1991 00:00:00 +0530 Tue, 28 Jun 2011 15:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=81744 MODVAT credit on notified inputs under Rule 57A was not limited to the exact quantity physically consumed in manufacture, and the scheme did not require declaration of a precise consumption percentage. The credit operated as a pool, so one-to-one correlation between input and output was not mandatory. Rule 57F did not require reversal merely because part of the input emerged as spent acid or waste during processing. On that basis, credit taken on the entire input was treated as valid and restriction of credit to 49% was not sustainable. Case-Laws Central Excise Wed, 04 Dec 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=81744