https://www.taxtmi.com/caselaws?id=106439 A prima facie case existed for stay and waiver of pre-deposit where exported goods to Nepal were claimed to be cleared under bond without reversal of Modvat credit. The department treated the goods as accessories and argued that credit could be retained only if they were cleared with the final product and their value was included in the assessable value. The appellants relied on the export clearance provision and a departmental circular treating such clearance at par with final product for credit utilisation. On the material before it, immediate reversal of credit and recovery of duty and penalty were not justified, and recovery was stayed pending final disposal. en-us Wed, 10 Jul 2002 00:00:00 +0530 Wed, 14 Mar 2012 11:43:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106439 A prima facie case existed for stay and waiver of pre-deposit where exported goods to Nepal were claimed to be cleared under bond without reversal of Modvat credit. The department treated the goods as accessories and argued that credit could be retained only if they were cleared with the final product and their value was included in the assessable value. The appellants relied on the export clearance provision and a departmental circular treating such clearance at par with final product for credit utilisation. On the material before it, immediate reversal of credit and recovery of duty and penalty were not justified, and recovery was stayed pending final disposal. Case-Laws Central Excise Wed, 10 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106439