https://www.taxtmi.com/caselaws?id=88700 Modvat credit on inputs used to make Alkyd Resins cleared at nil duty was barred under Rule 57C because those clearances were made under an exemption notification and the final product was exempt. The fact that the resins were declared as an intermediate product and were also used captively, or later in manufacturing dutiable paints and varnishes in other factories, did not change the position for the exempt clearances. Credit was therefore admissible only to the extent of captive consumption linked to dutiable production, and disallowance of credit on the nil-rate clearances was upheld. en-us Wed, 05 Feb 1997 00:00:00 +0530 Tue, 20 Sep 2011 16:33:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88700 Modvat credit on inputs used to make Alkyd Resins cleared at nil duty was barred under Rule 57C because those clearances were made under an exemption notification and the final product was exempt. The fact that the resins were declared as an intermediate product and were also used captively, or later in manufacturing dutiable paints and varnishes in other factories, did not change the position for the exempt clearances. Credit was therefore admissible only to the extent of captive consumption linked to dutiable production, and disallowance of credit on the nil-rate clearances was upheld. Case-Laws Central Excise Wed, 05 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88700