https://www.taxtmi.com/caselaws?id=115780 Rule 57S(7) of the Central Excise Rules, 1944 did not require reversal of Modvat credit when moulds were sent for reconditioning, as the goods could be removed on intimation to the jurisdictional authorities. Where the assessee had mistakenly debited the credit and later re-entered it on receipt of the reconditioned mould, the erroneous adjustment could be corrected. In a revenue-neutral situation, the assessee was entitled to restore the credit, and no net revenue loss arose from the reversal and recredit process. en-us Tue, 09 Nov 2004 00:00:00 +0530 Fri, 01 Jun 2012 18:19:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115780 Rule 57S(7) of the Central Excise Rules, 1944 did not require reversal of Modvat credit when moulds were sent for reconditioning, as the goods could be removed on intimation to the jurisdictional authorities. Where the assessee had mistakenly debited the credit and later re-entered it on receipt of the reconditioned mould, the erroneous adjustment could be corrected. In a revenue-neutral situation, the assessee was entitled to restore the credit, and no net revenue loss arose from the reversal and recredit process. Case-Laws Central Excise Tue, 09 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115780