https://www.taxtmi.com/caselaws?id=86125 Modvat credit was held admissible on returned watch straps that had been cleared on payment of duty and later reprocessed into different sizes in the assessee's factory. The returned straps retained their character as duty-paid goods and, because they were notified inputs under the Modvat scheme, their status as finished goods did not bar credit for re-sizing and reprocessing. The availability of alternative procedures under Rule 173H or Rule 173L did not exclude credit in these circumstances, and the re-cleared goods remained subject to duty, removing any revenue concern. en-us Wed, 07 Aug 1996 00:00:00 +0530 Wed, 10 Aug 2011 13:21:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86125 Modvat credit was held admissible on returned watch straps that had been cleared on payment of duty and later reprocessed into different sizes in the assessee's factory. The returned straps retained their character as duty-paid goods and, because they were notified inputs under the Modvat scheme, their status as finished goods did not bar credit for re-sizing and reprocessing. The availability of alternative procedures under Rule 173H or Rule 173L did not exclude credit in these circumstances, and the re-cleared goods remained subject to duty, removing any revenue concern. Case-Laws Central Excise Wed, 07 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86125