https://www.taxtmi.com/caselaws?id=108904 Rule 57C did not require reversal of Modvat credit where resin, an intermediate product cleared under Notification No. 217/86-C.E. and Chapter X procedure, was ultimately used in the manufacture of dutiable final products. The exempt clearance of the intermediate product did not alter the position because the final product remained duty-paid paints. Since Rule 57C applies only when the final products are exempt, it had no application on these facts. Reversal of Modvat credit could not therefore be demanded, and the assessee's entitlement to credit was upheld. en-us Mon, 31 Mar 2003 00:00:00 +0530 Wed, 04 Apr 2012 15:11:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108904 Rule 57C did not require reversal of Modvat credit where resin, an intermediate product cleared under Notification No. 217/86-C.E. and Chapter X procedure, was ultimately used in the manufacture of dutiable final products. The exempt clearance of the intermediate product did not alter the position because the final product remained duty-paid paints. Since Rule 57C applies only when the final products are exempt, it had no application on these facts. Reversal of Modvat credit could not therefore be demanded, and the assessee's entitlement to credit was upheld. Case-Laws Central Excise Mon, 31 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108904