https://www.taxtmi.com/caselaws?id=117448 Modvat credit is admissible only on inputs used in the manufacture of dutiable goods, so credit attributable to inputs consumed in exempt clearances does not survive for later carry forward when duty is re-imposed. Credit could be recognised only for inputs or finished stock actually in existence when the goods again became dutiable, not for an unutilized balance linked to past exempt production. On these facts, the claim to carry forward the earlier Modvat credit was rejected as not sustainable. en-us Wed, 15 Feb 2006 00:00:00 +0530 Fri, 22 Jun 2012 17:09:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117448 Modvat credit is admissible only on inputs used in the manufacture of dutiable goods, so credit attributable to inputs consumed in exempt clearances does not survive for later carry forward when duty is re-imposed. Credit could be recognised only for inputs or finished stock actually in existence when the goods again became dutiable, not for an unutilized balance linked to past exempt production. On these facts, the claim to carry forward the earlier Modvat credit was rejected as not sustainable. Case-Laws Central Excise Wed, 15 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117448