https://www.taxtmi.com/caselaws?id=206059 Modvat credit was held available where the final product was exempt from duty, but the assessee voluntarily cleared the goods on payment of duty instead of claiming the exemption. Prior decisions recognised that an assessee is not compelled to take the exemption notification and may opt to pay tariff duty. The credit denial was further unsustainable because the duty paid and the Modvat credit availed were exactly equivalent, making the arrangement revenue neutral. On that basis, the denial of credit was held unjustified and the assessee succeeded on the issue. en-us Tue, 01 Feb 2011 00:00:00 +0530 Mon, 10 Oct 2011 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206059 Modvat credit was held available where the final product was exempt from duty, but the assessee voluntarily cleared the goods on payment of duty instead of claiming the exemption. Prior decisions recognised that an assessee is not compelled to take the exemption notification and may opt to pay tariff duty. The credit denial was further unsustainable because the duty paid and the Modvat credit availed were exactly equivalent, making the arrangement revenue neutral. On that basis, the denial of credit was held unjustified and the assessee succeeded on the issue. Case-Laws Central Excise Tue, 01 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206059