https://www.taxtmi.com/caselaws?id=96963 A manufacturer opting for complete duty exemption and reversing Modvat credit was required under Rule 57H to discharge, in cash, any shortfall after adjusting the credit balance for inputs in stock or contained in finished goods on the transition date. The cash payment represented the balance of the statutory liability and was not an excess payment. A refund of that amount was therefore misconceived, and no refund was payable. en-us Mon, 17 Apr 2000 00:00:00 +0530 Fri, 13 Jan 2012 14:42:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96963 A manufacturer opting for complete duty exemption and reversing Modvat credit was required under Rule 57H to discharge, in cash, any shortfall after adjusting the credit balance for inputs in stock or contained in finished goods on the transition date. The cash payment represented the balance of the statutory liability and was not an excess payment. A refund of that amount was therefore misconceived, and no refund was payable. Case-Laws Central Excise Mon, 17 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96963