https://www.taxtmi.com/caselaws?id=118048 Where exemption from central excise duty is upheld, a procedural cap on Modvat credit cannot be used to reduce the substantive relief. The article states that duty paid on inputs, once not required to be retained by the Revenue, may be allowed in full as Modvat credit because it serves the same restorative function as refund. Accordingly, the 95% restriction in Notification No. 14/97 could not be applied to curtail the benefit flowing from the exemption finding, and the assessee was entitled to complete consequential relief on the credit claim. en-us Mon, 01 May 2006 00:00:00 +0530 Thu, 28 Jun 2012 11:13:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118048 Where exemption from central excise duty is upheld, a procedural cap on Modvat credit cannot be used to reduce the substantive relief. The article states that duty paid on inputs, once not required to be retained by the Revenue, may be allowed in full as Modvat credit because it serves the same restorative function as refund. Accordingly, the 95% restriction in Notification No. 14/97 could not be applied to curtail the benefit flowing from the exemption finding, and the assessee was entitled to complete consequential relief on the credit claim. Case-Laws Central Excise Mon, 01 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118048