https://www.taxtmi.com/caselaws?id=93705 Credit validly taken on duty-paid grey fabrics was treated as available under the Modvat scheme regardless of whether the inputs were bought out or manufactured in-house, because both qualified as inputs under Rule 57A. Clearance of such inputs as such for home consumption attracted Rule 57F(12)(c), requiring only reversal of the credit taken before removal. The Tribunal also noted that, under the proviso to Rule 57F(12), the scheme did not require one-to-one correlation for utilisation of credit during the relevant period. On that basis, a strong prima facie case was found for full waiver of pre-deposit and stay of recovery pending appeal. en-us Mon, 29 May 2000 00:00:00 +0530 Wed, 16 Nov 2011 12:56:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=93705 Credit validly taken on duty-paid grey fabrics was treated as available under the Modvat scheme regardless of whether the inputs were bought out or manufactured in-house, because both qualified as inputs under Rule 57A. Clearance of such inputs as such for home consumption attracted Rule 57F(12)(c), requiring only reversal of the credit taken before removal. The Tribunal also noted that, under the proviso to Rule 57F(12), the scheme did not require one-to-one correlation for utilisation of credit during the relevant period. On that basis, a strong prima facie case was found for full waiver of pre-deposit and stay of recovery pending appeal. Case-Laws Central Excise Mon, 29 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=93705