https://www.taxtmi.com/caselaws?id=85287 Rule 57F(3) and Notification No. 85/87-C.E. create a self-contained scheme permitting cash refund of MODVAT credit only when the credit cannot be utilised. On the facts noted, the credit accumulated because of exports, and it was not shown that the assessee could have used it within the quarterly period contemplated by the notification. The existence of clearances for home consumption did not, by itself, defeat the conclusion that the accumulated credit remained unutilised and incapable of timely adjustment. Refund was therefore held admissible, and the Revenue's challenge failed. en-us Tue, 12 Mar 1996 00:00:00 +0530 Wed, 03 Aug 2011 18:48:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85287 Rule 57F(3) and Notification No. 85/87-C.E. create a self-contained scheme permitting cash refund of MODVAT credit only when the credit cannot be utilised. On the facts noted, the credit accumulated because of exports, and it was not shown that the assessee could have used it within the quarterly period contemplated by the notification. The existence of clearances for home consumption did not, by itself, defeat the conclusion that the accumulated credit remained unutilised and incapable of timely adjustment. Refund was therefore held admissible, and the Revenue's challenge failed. Case-Laws Central Excise Tue, 12 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85287