https://www.taxtmi.com/caselaws?id=87284 Rule 57D(1) preserves Modvat credit where inputs are contained in waste, refuse or by-product arising during manufacture, so credit is not to be reversed merely because such waste is cleared as waste. The protection does not extend to a distinct recycled product: plastic granules obtained by recycling waste and cleared as exempt goods were treated as separate clearances, and credit attributable to inputs contained in those exempt granules was reversible. Credit remained protected only to the extent the recycled granules were reused in further manufacture. The commentary therefore distinguishes waste cleared as waste from recycled exempt goods for Modvat reversal purposes. en-us Tue, 16 Sep 1997 00:00:00 +0530 Sat, 03 Sep 2011 19:00:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=87284 Rule 57D(1) preserves Modvat credit where inputs are contained in waste, refuse or by-product arising during manufacture, so credit is not to be reversed merely because such waste is cleared as waste. The protection does not extend to a distinct recycled product: plastic granules obtained by recycling waste and cleared as exempt goods were treated as separate clearances, and credit attributable to inputs contained in those exempt granules was reversible. Credit remained protected only to the extent the recycled granules were reused in further manufacture. The commentary therefore distinguishes waste cleared as waste from recycled exempt goods for Modvat reversal purposes. Case-Laws Central Excise Tue, 16 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=87284