https://www.taxtmi.com/caselaws?id=87792 Modvat credit under Rule 57Q was unavailable on the carding unit and spares because eligibility had to be assessed when the goods were received in the factory, and at that time the intermediate product, cotton carded/combed under Heading 52.02, was not a notified item. On the finding that cotton carded/combed was a marketable commodity, the machinery did not produce a specified item within the rule's ambit when credit arose. Rule 57S on transfer of machinery did not create eligibility where none existed at receipt. Credit was therefore unavailable both before and after 21-10-1994. en-us Mon, 04 Aug 1997 00:00:00 +0530 Tue, 13 Sep 2011 10:26:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=87792 Modvat credit under Rule 57Q was unavailable on the carding unit and spares because eligibility had to be assessed when the goods were received in the factory, and at that time the intermediate product, cotton carded/combed under Heading 52.02, was not a notified item. On the finding that cotton carded/combed was a marketable commodity, the machinery did not produce a specified item within the rule's ambit when credit arose. Rule 57S on transfer of machinery did not create eligibility where none existed at receipt. Credit was therefore unavailable both before and after 21-10-1994. Case-Laws Central Excise Mon, 04 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=87792