https://www.taxtmi.com/caselaws?id=126103 Substantial compliance with the requirement to maintain separate accounts for inputs used in dutiable and exempted goods was sufficient where the assessee kept Form IV, RG 23A, Bin Cards and Batch Cards, did not avail credit on inputs used exclusively for exempted goods, and reversed proportionate Modvat/Cenvat credit in stray cases involving common inputs. On those facts, an automatic reversal of 8% of the price of all exempted clearances under Rule 57CC/57AD was unjustified. The demand also failed on suppression, because the reversals were reflected in the records furnished to the Department. en-us Tue, 24 Mar 2009 00:00:00 +0530 Fri, 02 Nov 2012 12:49:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126103 Substantial compliance with the requirement to maintain separate accounts for inputs used in dutiable and exempted goods was sufficient where the assessee kept Form IV, RG 23A, Bin Cards and Batch Cards, did not avail credit on inputs used exclusively for exempted goods, and reversed proportionate Modvat/Cenvat credit in stray cases involving common inputs. On those facts, an automatic reversal of 8% of the price of all exempted clearances under Rule 57CC/57AD was unjustified. The demand also failed on suppression, because the reversals were reflected in the records furnished to the Department. Case-Laws Central Excise Tue, 24 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126103