https://www.taxtmi.com/caselaws?id=94175 Modvat credit on zinc was not required to be reversed merely because zinc ash and zinc dross arose during manufacture and were cleared under exemption. The inputs were partly contained in waste or by-product, so Rule 57D(1) protected the credit and it could not be varied on the ground that the waste product itself was exempt. The later amendment to the exemption notification was treated as prospective only, and its new condition did not govern earlier clearances. Rule 57C was therefore inapplicable on these facts, and reversal of credit was unsustainable. en-us Sat, 17 Jan 1998 00:00:00 +0530 Sat, 19 Nov 2011 15:56:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94175 Modvat credit on zinc was not required to be reversed merely because zinc ash and zinc dross arose during manufacture and were cleared under exemption. The inputs were partly contained in waste or by-product, so Rule 57D(1) protected the credit and it could not be varied on the ground that the waste product itself was exempt. The later amendment to the exemption notification was treated as prospective only, and its new condition did not govern earlier clearances. Rule 57C was therefore inapplicable on these facts, and reversal of credit was unsustainable. Case-Laws Central Excise Sat, 17 Jan 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94175