https://www.taxtmi.com/caselaws?id=119562 Modvat credit on filter pads was held time-barred where the demand was raised beyond the six-month limit under Rule 57-I, and such a delayed demand could not be sustained. Credit already taken and utilised while the final product was dutiable was treated as valid, and no reversal was required merely because the product later became exempt from duty. The text states that there was no one-to-one correlation requiring repayment of correctly availed credit after exemption, so the reversal demand was not maintainable. Once the duty demands failed, the penalty also could not survive. en-us Tue, 04 Apr 2006 00:00:00 +0530 Wed, 11 Jul 2012 17:53:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119562 Modvat credit on filter pads was held time-barred where the demand was raised beyond the six-month limit under Rule 57-I, and such a delayed demand could not be sustained. Credit already taken and utilised while the final product was dutiable was treated as valid, and no reversal was required merely because the product later became exempt from duty. The text states that there was no one-to-one correlation requiring repayment of correctly availed credit after exemption, so the reversal demand was not maintainable. Once the duty demands failed, the penalty also could not survive. Case-Laws Central Excise Tue, 04 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119562