https://www.taxtmi.com/caselaws?id=90449 Conditional exemption under Notification No. 234/86 does not amount to full exemption for Rule 57C purposes unless the prescribed conditions, including production of the Drugs Controller certificate, are proved. Where those conditions are not shown to have been met and duty is paid on finished goods, Modvat credit on inputs cannot be denied as relating to wholly exempt goods. Recovery of Modvat credit under Rule 57I must also comply with the applicable limitation period. Disclosure in classification lists, payment of duty, and assessed RT-12 returns preclude extended recovery where no suppression, misstatement, or equivalent ground is alleged. The credit denial and time-barred recovery were set aside, with restoration of recovered credit. en-us Tue, 23 Dec 1997 00:00:00 +0530 Fri, 07 Oct 2011 14:38:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=90449 Conditional exemption under Notification No. 234/86 does not amount to full exemption for Rule 57C purposes unless the prescribed conditions, including production of the Drugs Controller certificate, are proved. Where those conditions are not shown to have been met and duty is paid on finished goods, Modvat credit on inputs cannot be denied as relating to wholly exempt goods. Recovery of Modvat credit under Rule 57I must also comply with the applicable limitation period. Disclosure in classification lists, payment of duty, and assessed RT-12 returns preclude extended recovery where no suppression, misstatement, or equivalent ground is alleged. The credit denial and time-barred recovery were set aside, with restoration of recovered credit. Case-Laws Central Excise Tue, 23 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=90449