https://www.taxtmi.com/caselaws?id=98704 Modvat credit was barred where inputs were used in the manufacture of final products cleared without payment of duty under a conditional exemption notification. The requirement to follow Chapter X procedure, or to execute a bond, did not alter the character of the notification as an exemption under Rule 8. Once the finished goods were removed without duty, Rule 57C applied and credit was not legally available. The assessee's good faith or absence of intent to evade duty did not affect the credit entitlement. The denial of credit was restored. en-us Thu, 09 Sep 1999 00:00:00 +0530 Sat, 21 Jan 2012 16:54:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98704 Modvat credit was barred where inputs were used in the manufacture of final products cleared without payment of duty under a conditional exemption notification. The requirement to follow Chapter X procedure, or to execute a bond, did not alter the character of the notification as an exemption under Rule 8. Once the finished goods were removed without duty, Rule 57C applied and credit was not legally available. The assessee's good faith or absence of intent to evade duty did not affect the credit entitlement. The denial of credit was restored. Case-Laws Central Excise Thu, 09 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98704