https://www.taxtmi.com/caselaws?id=123457 Reversal of the entire MODVAT credit on common inputs used for both dutiable and exempted final products was treated as equivalent to non-availment of credit, so the consequence of not maintaining separate accounts under Rule 57CC ceased to apply. The Tribunal applied the earlier principle that an exemption linked to non-availment of credit is satisfied where the credit is fully reversed. On that basis, the liability to pay 8% of the sale price of exempted goods was held to be unsustainable where the entire credit had been reversed on the common inputs. en-us Fri, 14 Mar 2008 00:00:00 +0530 Fri, 08 Sep 2017 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123457 Reversal of the entire MODVAT credit on common inputs used for both dutiable and exempted final products was treated as equivalent to non-availment of credit, so the consequence of not maintaining separate accounts under Rule 57CC ceased to apply. The Tribunal applied the earlier principle that an exemption linked to non-availment of credit is satisfied where the credit is fully reversed. On that basis, the liability to pay 8% of the sale price of exempted goods was held to be unsustainable where the entire credit had been reversed on the common inputs. Case-Laws Central Excise Fri, 14 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123457