https://www.taxtmi.com/caselaws?id=94917 Rule 57F(3) permits Modvat credit for specified duty paid on inputs used in final products cleared for export under bond and in intermediate products cleared for export under the rule. Credit is not denied merely because intermediate products arise during manufacture or because some inputs relate to locally consumed goods. Where adjustment is unavailable, the rule contemplates utilisation or refund, subject to applicable restrictions concerning drawback or rebate. In the absence of conditions triggering those restrictions, disallowance of credit and the related penalty are unsustainable. en-us Fri, 22 Sep 2000 00:00:00 +0530 Mon, 05 Dec 2011 17:42:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94917 Rule 57F(3) permits Modvat credit for specified duty paid on inputs used in final products cleared for export under bond and in intermediate products cleared for export under the rule. Credit is not denied merely because intermediate products arise during manufacture or because some inputs relate to locally consumed goods. Where adjustment is unavailable, the rule contemplates utilisation or refund, subject to applicable restrictions concerning drawback or rebate. In the absence of conditions triggering those restrictions, disallowance of credit and the related penalty are unsustainable. Case-Laws Central Excise Fri, 22 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94917