https://www.taxtmi.com/caselaws?id=86014 Modvat credit on inputs used in manufacture remained admissible where the finished goods were destroyed by fire and duty was remitted under Rule 49 of the Central Excise Rules, 1944. Credit had been validly taken on inputs received and used in manufacture, and it had already been utilised against duty on earlier clearances. Remission of duty on the destroyed goods was not equivalent to a general exemption or to final products being chargeable at nil rate, so Rule 57C did not apply. The denial of credit was therefore not sustainable, and the assessee was entitled to retain the credit. en-us Fri, 04 Oct 1996 00:00:00 +0530 Tue, 09 Aug 2011 16:07:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86014 Modvat credit on inputs used in manufacture remained admissible where the finished goods were destroyed by fire and duty was remitted under Rule 49 of the Central Excise Rules, 1944. Credit had been validly taken on inputs received and used in manufacture, and it had already been utilised against duty on earlier clearances. Remission of duty on the destroyed goods was not equivalent to a general exemption or to final products being chargeable at nil rate, so Rule 57C did not apply. The denial of credit was therefore not sustainable, and the assessee was entitled to retain the credit. Case-Laws Central Excise Fri, 04 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86014