https://www.taxtmi.com/caselaws?id=98474 Clearances under Chapter X procedure were not treated as exempted or nil-rated clearances, so inputs used in manufacturing goods so cleared remained eligible for Modvat credit. On that reasoning, no reversal of credit was required where the final goods were exported under bond without payment of duty, and the Revenue's reliance on Kirloskar Oil Engines Ltd. was held inapposite because it did not address this factual situation. The demand for reversal of Modvat credit was therefore rejected as unsustainable. en-us Tue, 20 Feb 2001 00:00:00 +0530 Fri, 20 Jan 2012 17:28:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98474 Clearances under Chapter X procedure were not treated as exempted or nil-rated clearances, so inputs used in manufacturing goods so cleared remained eligible for Modvat credit. On that reasoning, no reversal of credit was required where the final goods were exported under bond without payment of duty, and the Revenue's reliance on Kirloskar Oil Engines Ltd. was held inapposite because it did not address this factual situation. The demand for reversal of Modvat credit was therefore rejected as unsustainable. Case-Laws Central Excise Tue, 20 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98474