https://www.taxtmi.com/caselaws?id=106722 Notification No. 4/97 granted full exemption to specified final products where Modvat credit on inputs used for exempted goods was not availed. Mixed clearances, by themselves, did not defeat the exemption for the remaining clearances. The record showed that credit had not been taken on inputs used for the exempted final product, and the Modvat rules did not require separate physical storage of inputs for exempted and dutiable goods. What was required was separate inventory and accounts of receipt and use, and that requirement was satisfied. The exemption was therefore not denied, and the demand was dropped. en-us Thu, 12 Sep 2002 00:00:00 +0530 Thu, 15 Mar 2012 13:23:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106722 Notification No. 4/97 granted full exemption to specified final products where Modvat credit on inputs used for exempted goods was not availed. Mixed clearances, by themselves, did not defeat the exemption for the remaining clearances. The record showed that credit had not been taken on inputs used for the exempted final product, and the Modvat rules did not require separate physical storage of inputs for exempted and dutiable goods. What was required was separate inventory and accounts of receipt and use, and that requirement was satisfied. The exemption was therefore not denied, and the demand was dropped. Case-Laws Central Excise Thu, 12 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106722