https://www.taxtmi.com/caselaws?id=95402 Modvat credit was examined for undeclared inputs, tool items, and goods covered by rectified GP 1 documents. Credit on inputs not specifically declared under Rule 57G was remanded for fresh consideration in light of the amended rule, Board circulars and the Larger Bench view. Credit on tubular spanner and the complete tool kit was allowed because the spanner formed part of the kit and tools were treated as eligible on the facts. Credit on goods initially unsupported by endorsement or countersignature was allowed after the defect was cured. The penalty was reduced in view of the limited extent of inadmissible credit sustained. en-us Tue, 16 Jan 2001 00:00:00 +0530 Mon, 12 Dec 2011 11:51:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=95402 Modvat credit was examined for undeclared inputs, tool items, and goods covered by rectified GP 1 documents. Credit on inputs not specifically declared under Rule 57G was remanded for fresh consideration in light of the amended rule, Board circulars and the Larger Bench view. Credit on tubular spanner and the complete tool kit was allowed because the spanner formed part of the kit and tools were treated as eligible on the facts. Credit on goods initially unsupported by endorsement or countersignature was allowed after the defect was cured. The penalty was reduced in view of the limited extent of inadmissible credit sustained. Case-Laws Central Excise Tue, 16 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=95402