https://www.taxtmi.com/caselaws?id=89505 Duty-paid inputs used to manufacture plastic sheets did not lose Modvat credit merely because waste and scrap arose in the process and were cleared under the plastic waste exemption. The Tribunal's view, applying Rule 57D, was that credit is not denied or reversed where part of the input ends up in exempt waste or by-product unless the scheme or governing provision specifically requires reversal. The exemption for waste and scrap of plastics was therefore available, and Modvat credit on the inputs was not liable to be denied or reversed. en-us Wed, 09 Dec 1998 00:00:00 +0530 Tue, 27 Sep 2011 15:44:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89505 Duty-paid inputs used to manufacture plastic sheets did not lose Modvat credit merely because waste and scrap arose in the process and were cleared under the plastic waste exemption. The Tribunal's view, applying Rule 57D, was that credit is not denied or reversed where part of the input ends up in exempt waste or by-product unless the scheme or governing provision specifically requires reversal. The exemption for waste and scrap of plastics was therefore available, and Modvat credit on the inputs was not liable to be denied or reversed. Case-Laws Central Excise Wed, 09 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89505