https://www.taxtmi.com/caselaws?id=123847 Deemed Modvat credit under Notification No. 58/97-C.E. (N.T.) was confined to inputs whose price was paid by cheque, demand draft or bankers' cheque. Where the consideration was only adjusted against sums payable to the input manufacturer, the mandatory payment condition was not met, so the credit claim failed. The appeal was rejected. en-us Mon, 12 Feb 2007 00:00:00 +0530 Fri, 21 Sep 2012 12:01:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123847 Deemed Modvat credit under Notification No. 58/97-C.E. (N.T.) was confined to inputs whose price was paid by cheque, demand draft or bankers' cheque. Where the consideration was only adjusted against sums payable to the input manufacturer, the mandatory payment condition was not met, so the credit claim failed. The appeal was rejected. Case-Laws Central Excise Mon, 12 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123847