https://www.taxtmi.com/caselaws?id=114434 Modvat credit was denied on additional customs duty (CVD) debited to the DEPB pass book under Notification No. 34/97-Cus because the debit operated as exemption rather than cash payment of duty. The Import Policy allowed credit only where CVD was paid in cash, and the governing condition remained actual duty payment on the inputs. Following the later Larger Bench view, the tribunal treated pass-book debit under the exemption scheme as insufficient to satisfy that requirement, so credit was not admissible. en-us Fri, 08 Oct 2004 00:00:00 +0530 Tue, 15 May 2012 16:22:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114434 Modvat credit was denied on additional customs duty (CVD) debited to the DEPB pass book under Notification No. 34/97-Cus because the debit operated as exemption rather than cash payment of duty. The Import Policy allowed credit only where CVD was paid in cash, and the governing condition remained actual duty payment on the inputs. Following the later Larger Bench view, the tribunal treated pass-book debit under the exemption scheme as insufficient to satisfy that requirement, so credit was not admissible. Case-Laws Central Excise Fri, 08 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114434