https://www.taxtmi.com/caselaws?id=86952 Modvat credit on inputs received from a 100% Export Oriented Unit was confined to the ceiling fixed by Notification No. 177/86-C.E., namely the notional additional duty of customs leviable on like imported goods under Section 3 of the Customs Tariff Act, 1975; the actual duty composition paid by the EOU did not enlarge the permissible credit. Excess credit was found to have been taken and utilised, but the Tribunal considered the original penalty disproportionate on the facts and reduced it. The duty determination was sustained, while the penal consequence was modified downward. en-us Tue, 06 May 1997 00:00:00 +0530 Mon, 29 Aug 2011 15:50:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86952 Modvat credit on inputs received from a 100% Export Oriented Unit was confined to the ceiling fixed by Notification No. 177/86-C.E., namely the notional additional duty of customs leviable on like imported goods under Section 3 of the Customs Tariff Act, 1975; the actual duty composition paid by the EOU did not enlarge the permissible credit. Excess credit was found to have been taken and utilised, but the Tribunal considered the original penalty disproportionate on the facts and reduced it. The duty determination was sustained, while the penal consequence was modified downward. Case-Laws Central Excise Tue, 06 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86952