https://www.taxtmi.com/caselaws?id=82742 Rule 57H of the Central Excise Rules, 1944 allowed Modvat credit not only on inputs lying in stock but also on inputs used in final products cleared on or after 1-3-1987. Entitlement was not confined to physical verification of inputs in hand; where inputs had been consumed in processed material or finished goods, credit could be established from records showing utilisation in cleared products. The objection that credit was limited to physically verifiable stock was rejected, and the assessee's entitlement was upheld on the basis of stock and accounting records. en-us Tue, 21 Jul 1992 00:00:00 +0530 Thu, 07 Jul 2011 10:53:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82742 Rule 57H of the Central Excise Rules, 1944 allowed Modvat credit not only on inputs lying in stock but also on inputs used in final products cleared on or after 1-3-1987. Entitlement was not confined to physical verification of inputs in hand; where inputs had been consumed in processed material or finished goods, credit could be established from records showing utilisation in cleared products. The objection that credit was limited to physically verifiable stock was rejected, and the assessee's entitlement was upheld on the basis of stock and accounting records. Case-Laws Central Excise Tue, 21 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82742