https://www.taxtmi.com/caselaws?id=119397 Modvat credit in RG 23A Part II was held usable for duty payment on alloy steel ingots, because the compounded levy restriction under the relevant notification and Rule 57F(17)(c) applied only to notified non-alloy steel ingots and billets within the specified tariff headings. Credit did not lapse for inputs used in manufacturing alloy steel ingots, as those goods were outside the scope of the scheme. The denial of credit and the related penalty were accordingly set aside, and the appeal succeeded. en-us Tue, 24 Jan 2006 00:00:00 +0530 Tue, 10 Jul 2012 17:57:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119397 Modvat credit in RG 23A Part II was held usable for duty payment on alloy steel ingots, because the compounded levy restriction under the relevant notification and Rule 57F(17)(c) applied only to notified non-alloy steel ingots and billets within the specified tariff headings. Credit did not lapse for inputs used in manufacturing alloy steel ingots, as those goods were outside the scope of the scheme. The denial of credit and the related penalty were accordingly set aside, and the appeal succeeded. Case-Laws Central Excise Tue, 24 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119397