https://www.taxtmi.com/caselaws?id=83201 Modvat credit on duty-paid inputs remains available where exempt intermediate products emerge during manufacture and are captively consumed in producing the final dutiable product. Rule 57D(2) protects such credit even if the intermediate goods are classifiable under the tariff or are deliberately manufactured as part of the process, because their emergence does not alter their character as intermediate products for credit purposes. The article treats the credit provisions as analogous to the earlier scheme and states that credit cannot be denied merely because the intermediate resin is exempt from duty; the assessee is entitled to the credit. en-us Tue, 18 Feb 1992 00:00:00 +0530 Mon, 11 Jul 2011 16:33:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83201 Modvat credit on duty-paid inputs remains available where exempt intermediate products emerge during manufacture and are captively consumed in producing the final dutiable product. Rule 57D(2) protects such credit even if the intermediate goods are classifiable under the tariff or are deliberately manufactured as part of the process, because their emergence does not alter their character as intermediate products for credit purposes. The article treats the credit provisions as analogous to the earlier scheme and states that credit cannot be denied merely because the intermediate resin is exempt from duty; the assessee is entitled to the credit. Case-Laws Central Excise Tue, 18 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83201