https://www.taxtmi.com/caselaws?id=113998 Modvat credit on duty-paid inputs could not be reversed merely because the assessee had availed Small Scale Industry exemption under Notification No. 16/97-C.E. during the relevant period. The note states that, even if the exemption was wrongly continued for part of the period, the consequence was duty liability on finished goods cleared in breach of the notification, not denial of validly taken credit. Credit supported by duty-paying documents remained available unless actually utilised in a manner contrary to the rules. en-us Fri, 16 Jul 2004 00:00:00 +0530 Wed, 09 May 2012 17:15:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113998 Modvat credit on duty-paid inputs could not be reversed merely because the assessee had availed Small Scale Industry exemption under Notification No. 16/97-C.E. during the relevant period. The note states that, even if the exemption was wrongly continued for part of the period, the consequence was duty liability on finished goods cleared in breach of the notification, not denial of validly taken credit. Credit supported by duty-paying documents remained available unless actually utilised in a manner contrary to the rules. Case-Laws Central Excise Fri, 16 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113998