https://www.taxtmi.com/caselaws?id=113455 Modvat credit validly taken on inputs for a discontinued three-wheeler model did not require immediate reversal while the inputs still remained in the factory, because reversal under the scheme arises when inputs are cleared as such and the credit is then debited against that clearance. The credit therefore continued to remain in the Modvat account until such clearance. However, credit on inputs meant exclusively for the discontinued model could not be used to pay duty on other models, since those inputs were not used in their manufacture. The demand for reversal was therefore unsustainable at that stage, but utilisation of the credit for other models was not permitted. en-us Wed, 28 Apr 2004 00:00:00 +0530 Sat, 05 May 2012 13:24:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113455 Modvat credit validly taken on inputs for a discontinued three-wheeler model did not require immediate reversal while the inputs still remained in the factory, because reversal under the scheme arises when inputs are cleared as such and the credit is then debited against that clearance. The credit therefore continued to remain in the Modvat account until such clearance. However, credit on inputs meant exclusively for the discontinued model could not be used to pay duty on other models, since those inputs were not used in their manufacture. The demand for reversal was therefore unsustainable at that stage, but utilisation of the credit for other models was not permitted. Case-Laws Central Excise Wed, 28 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113455