https://www.taxtmi.com/caselaws?id=82529 Modvat credit under Rules 57C and 57F(3)(i) was examined where inputs were used to manufacture declared final products, some of which were cleared duty-free under an exemption notification. One approach treated Rule 57C as barring credit when final products were wholly exempt or subject to a nil rate, including conditional exemptions cleared under Chapter X procedure. The competing approach relied on use in declared final products and the absence of one-to-one input-output correlation. The rules were considered to require harmonious construction, with credit not retained for final products not bearing duty. Conflicting Tribunal views and relevant High Court authorities warranted reference to a larger Bench. en-us Thu, 18 Mar 1993 00:00:00 +0530 Tue, 05 Jul 2011 16:58:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82529 Modvat credit under Rules 57C and 57F(3)(i) was examined where inputs were used to manufacture declared final products, some of which were cleared duty-free under an exemption notification. One approach treated Rule 57C as barring credit when final products were wholly exempt or subject to a nil rate, including conditional exemptions cleared under Chapter X procedure. The competing approach relied on use in declared final products and the absence of one-to-one input-output correlation. The rules were considered to require harmonious construction, with credit not retained for final products not bearing duty. Conflicting Tribunal views and relevant High Court authorities warranted reference to a larger Bench. Case-Laws Central Excise Thu, 18 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82529