https://www.taxtmi.com/caselaws?id=112074 Under the Modvat scheme, credit on polystyrene could not be denied merely because the assessee did not establish one-to-one correlation between the input and each final product. The Tribunal noted that the final products included goods for which polystyrene was an admitted input, and the Revenue did not dispute use of the input in or in relation to manufacture. A Board circular could not override the settled position that product-wise utilisation was not an inherent requirement for Modvat credit unless the governing rule specifically so provided. The denial of credit was therefore unsustainable and the credit was admissible. en-us Tue, 23 Mar 2004 00:00:00 +0530 Thu, 26 Apr 2012 15:07:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112074 Under the Modvat scheme, credit on polystyrene could not be denied merely because the assessee did not establish one-to-one correlation between the input and each final product. The Tribunal noted that the final products included goods for which polystyrene was an admitted input, and the Revenue did not dispute use of the input in or in relation to manufacture. A Board circular could not override the settled position that product-wise utilisation was not an inherent requirement for Modvat credit unless the governing rule specifically so provided. The denial of credit was therefore unsustainable and the credit was admissible. Case-Laws Central Excise Tue, 23 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112074