https://www.taxtmi.com/caselaws?id=104861 Accumulated Modvat credit may be utilised to pay duty on the final product even where no credit was taken on the specific inputs used for that batch and no one-to-one correlation exists between inputs and output. The settled position noted by the Tribunal is that credit standing in the records is available for duty payment on the final product, and utilisation is not defeated merely because the final goods were manufactured from inputs on which credit was not availed. The Board circular cited was consistent with this interpretation, and the Revenue's objection to such utilisation was rejected. en-us Thu, 16 May 2002 00:00:00 +0530 Thu, 01 Mar 2012 16:04:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104861 Accumulated Modvat credit may be utilised to pay duty on the final product even where no credit was taken on the specific inputs used for that batch and no one-to-one correlation exists between inputs and output. The settled position noted by the Tribunal is that credit standing in the records is available for duty payment on the final product, and utilisation is not defeated merely because the final goods were manufactured from inputs on which credit was not availed. The Board circular cited was consistent with this interpretation, and the Revenue's objection to such utilisation was rejected. Case-Laws Central Excise Thu, 16 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104861