https://www.taxtmi.com/caselaws?id=125412 Modvat credit on moulds sent to job workers had to be reversed where the moulds were not received back within the prescribed three-month period and no extension was granted by the Commissioner. Rule 57-S(9) required an undertaking for return within that period or within any extended time, and Rule 57-S(10) treated non-return as requiring payment of duty equivalent to the credit taken. On the stated facts, the moulds remained unreturned for more than ten years, so the credit reversal was consistent with the rule and the confirming orders were upheld. en-us Wed, 25 Mar 2009 00:00:00 +0530 Tue, 23 Oct 2012 18:00:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125412 Modvat credit on moulds sent to job workers had to be reversed where the moulds were not received back within the prescribed three-month period and no extension was granted by the Commissioner. Rule 57-S(9) required an undertaking for return within that period or within any extended time, and Rule 57-S(10) treated non-return as requiring payment of duty equivalent to the credit taken. On the stated facts, the moulds remained unreturned for more than ten years, so the credit reversal was consistent with the rule and the confirming orders were upheld. Case-Laws Central Excise Wed, 25 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125412