https://www.taxtmi.com/caselaws?id=84905 Where an assessee opted out of Modvat and moved to the Small Scale Sector Exemption Scheme, duty was not payable on the initial clearances after 1-4-1990 because those clearances attracted nil duty. Inputs lying in stock on the relevant date, and finished goods in stock, were therefore relatable only to nil-duty clearances. Credit already taken on such inputs and stock could not be retained under Modvat, and the Revenue was entitled to recover the ineligible credit; reversal was upheld. en-us Fri, 29 Dec 1995 00:00:00 +0530 Mon, 01 Aug 2011 13:37:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84905 Where an assessee opted out of Modvat and moved to the Small Scale Sector Exemption Scheme, duty was not payable on the initial clearances after 1-4-1990 because those clearances attracted nil duty. Inputs lying in stock on the relevant date, and finished goods in stock, were therefore relatable only to nil-duty clearances. Credit already taken on such inputs and stock could not be retained under Modvat, and the Revenue was entitled to recover the ineligible credit; reversal was upheld. Case-Laws Central Excise Fri, 29 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84905