https://www.taxtmi.com/caselaws?id=90599 Deemed Modvat credit under Rule 57G(2) was held inadmissible on lead scrap and waste bought in the open market, because the material was found to be bazar scrap sourced from dealers, traders and public offices rather than scrap arising from manufacture. On the facts recorded, the goods had not suffered duty in fact or in law, and the deeming provision could not treat goods that were never duty paid as duty paid. Applying the larger Bench view on the Modvat scheme, actual payment of duty was treated as essential, so credit was correctly denied. en-us Thu, 17 Apr 1997 00:00:00 +0530 Mon, 10 Oct 2011 12:21:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=90599 Deemed Modvat credit under Rule 57G(2) was held inadmissible on lead scrap and waste bought in the open market, because the material was found to be bazar scrap sourced from dealers, traders and public offices rather than scrap arising from manufacture. On the facts recorded, the goods had not suffered duty in fact or in law, and the deeming provision could not treat goods that were never duty paid as duty paid. Applying the larger Bench view on the Modvat scheme, actual payment of duty was treated as essential, so credit was correctly denied. Case-Laws Central Excise Thu, 17 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=90599