https://www.taxtmi.com/caselaws?id=115816 Deemed Modvat credit under Notification No. 58/97-C.E. (N.T.) was admissible only where the suppliers' invoices carried the required declaration that duty had been discharged; credit was denied for inputs covered by deficient invoices and allowed for inputs supported by compliant declarations. The beneficiary was required to verify that the supplier declarations met the notification conditions before taking the concession, so failure to exercise due diligence justified penalty. The penalty was sustained, but the amount was reduced as excessive. en-us Wed, 08 Dec 2004 00:00:00 +0530 Mon, 04 Jun 2012 13:37:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115816 Deemed Modvat credit under Notification No. 58/97-C.E. (N.T.) was admissible only where the suppliers' invoices carried the required declaration that duty had been discharged; credit was denied for inputs covered by deficient invoices and allowed for inputs supported by compliant declarations. The beneficiary was required to verify that the supplier declarations met the notification conditions before taking the concession, so failure to exercise due diligence justified penalty. The penalty was sustained, but the amount was reduced as excessive. Case-Laws Central Excise Wed, 08 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115816