https://www.taxtmi.com/caselaws?id=81812 Under the MODVAT scheme, credit validly taken on specified inputs for a declared final product could not be denied or reversed merely because some clearances of that product were later made without duty under an exemption notification. The credit-taking stage and credit-utilisation stage were treated as distinct, and once the inputs were declared and the credit was duly taken, the absence of one-to-one or batch-wise correlation between inputs and clearances did not by itself attract reversal. Rule 57C was applied to exempt final products at the stage of taking credit, not to later conditional exemptions on part-clearance, and Rule 57F permitted utilisation of the credit accordingly. en-us Mon, 03 Feb 1992 00:00:00 +0530 Wed, 29 Jun 2011 10:43:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=81812 Under the MODVAT scheme, credit validly taken on specified inputs for a declared final product could not be denied or reversed merely because some clearances of that product were later made without duty under an exemption notification. The credit-taking stage and credit-utilisation stage were treated as distinct, and once the inputs were declared and the credit was duly taken, the absence of one-to-one or batch-wise correlation between inputs and clearances did not by itself attract reversal. Rule 57C was applied to exempt final products at the stage of taking credit, not to later conditional exemptions on part-clearance, and Rule 57F permitted utilisation of the credit accordingly. Case-Laws Central Excise Mon, 03 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=81812