https://www.taxtmi.com/caselaws?id=116134 Rule 57R(2) protected Modvat credit on capital goods used to manufacture an exempted or nil-duty intermediate product, and the proviso requiring the intermediate product to be specified as a final product under Rule 57Q was treated as non-mandatory. Applying the beneficial construction earlier given to Rule 57D(2), the absence of specification of grey fabric as a final product did not defeat substantive credit entitlement. The denial of Modvat credit on capital goods used in such manufacture was therefore unsustainable. en-us Tue, 15 Feb 2005 00:00:00 +0530 Thu, 07 Jun 2012 15:17:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116134 Rule 57R(2) protected Modvat credit on capital goods used to manufacture an exempted or nil-duty intermediate product, and the proviso requiring the intermediate product to be specified as a final product under Rule 57Q was treated as non-mandatory. Applying the beneficial construction earlier given to Rule 57D(2), the absence of specification of grey fabric as a final product did not defeat substantive credit entitlement. The denial of Modvat credit on capital goods used in such manufacture was therefore unsustainable. Case-Laws Central Excise Tue, 15 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116134