https://www.taxtmi.com/caselaws?id=86346 Bulk drugs exported under bond and the corresponding bulk drug cleared for home consumption were treated as similar goods for utilisation of Modvat credit under Rule 57F(3) of the Central Excise Rules, 1944. The rule permits accumulated credit to be applied against duty on a final product similar to exported goods. Because the goods fell within the same tariff chapters, were all antibiotics, and shared common inputs, they were found to have sufficient general likeness despite not being identical. On that basis, the earlier view against such utilisation was held inapplicable, and credit could validly be used for duty on the home-consumed product. en-us Tue, 14 Jan 1997 00:00:00 +0530 Wed, 24 Aug 2011 12:09:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86346 Bulk drugs exported under bond and the corresponding bulk drug cleared for home consumption were treated as similar goods for utilisation of Modvat credit under Rule 57F(3) of the Central Excise Rules, 1944. The rule permits accumulated credit to be applied against duty on a final product similar to exported goods. Because the goods fell within the same tariff chapters, were all antibiotics, and shared common inputs, they were found to have sufficient general likeness despite not being identical. On that basis, the earlier view against such utilisation was held inapplicable, and credit could validly be used for duty on the home-consumed product. Case-Laws Central Excise Tue, 14 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86346