https://www.taxtmi.com/caselaws?id=84500 Properly taken Modvat credit remained usable for payment of duty on eligible final products even after withdrawal of the facility, because the scheme allowed credit to form a common pool for offsetting duty and did not require one-to-one physical correlation between the inputs credited and the finished goods cleared. The right to utilise earlier credit would lapse only if the withdrawal notification expressly so provided. On that basis, accumulated deemed Modvat credit could still be applied to discharge duty on the notified final products, and the challenge to its utilisation was rejected. en-us Thu, 01 Jun 1995 00:00:00 +0530 Fri, 22 Jul 2011 13:11:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84500 Properly taken Modvat credit remained usable for payment of duty on eligible final products even after withdrawal of the facility, because the scheme allowed credit to form a common pool for offsetting duty and did not require one-to-one physical correlation between the inputs credited and the finished goods cleared. The right to utilise earlier credit would lapse only if the withdrawal notification expressly so provided. On that basis, accumulated deemed Modvat credit could still be applied to discharge duty on the notified final products, and the challenge to its utilisation was rejected. Case-Laws Central Excise Thu, 01 Jun 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84500