https://www.taxtmi.com/caselaws?id=88144 A manufacturer availing concessional duty under Notification No. 175/86-C.E. and Modvat credit was not barred from switching to the alternative exemption option during the same financial year. The Tribunal noted that Rules 57A to 57J of the Central Excise Rules, 1944 did not require the option to be exercised only at the start of the year or prevent later opt-out, and departmental clarification recognised such switching subject to including Modvat clearances in the aggregate turnover computation. Once the later option was exercised, it operated from the beginning of the financial year, but the assessee could not obtain both benefits. en-us Wed, 28 Jan 1998 00:00:00 +0530 Thu, 15 Sep 2011 13:23:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88144 A manufacturer availing concessional duty under Notification No. 175/86-C.E. and Modvat credit was not barred from switching to the alternative exemption option during the same financial year. The Tribunal noted that Rules 57A to 57J of the Central Excise Rules, 1944 did not require the option to be exercised only at the start of the year or prevent later opt-out, and departmental clarification recognised such switching subject to including Modvat clearances in the aggregate turnover computation. Once the later option was exercised, it operated from the beginning of the financial year, but the assessee could not obtain both benefits. Case-Laws Central Excise Wed, 28 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88144