https://www.taxtmi.com/caselaws?id=87257 Deemed Modvat credit for re-rolling mills under Notification No. 1/93 was treated as continuing even after the aggregate value crossed the Rs. 75 lakh limit, following the Tribunal's earlier consistent view on the exemption. By contrast, a depot cash memo was held insufficient for Modvat credit under Rule 57G where it did not link the supply to the underlying invoice or challan evidencing duty payment. The material principle was that exemption-linked deemed credit could survive the small-scale limit, but credit documentation still had to establish proper connection with the duty-paying document. Penalties consequential to the accepted claim were set aside. en-us Wed, 27 Aug 1997 00:00:00 +0530 Sat, 03 Sep 2011 17:31:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=87257 Deemed Modvat credit for re-rolling mills under Notification No. 1/93 was treated as continuing even after the aggregate value crossed the Rs. 75 lakh limit, following the Tribunal's earlier consistent view on the exemption. By contrast, a depot cash memo was held insufficient for Modvat credit under Rule 57G where it did not link the supply to the underlying invoice or challan evidencing duty payment. The material principle was that exemption-linked deemed credit could survive the small-scale limit, but credit documentation still had to establish proper connection with the duty-paying document. Penalties consequential to the accepted claim were set aside. Case-Laws Central Excise Wed, 27 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=87257