https://www.taxtmi.com/caselaws?id=216968 Unutilized MODVAT credit lying in the assessee's account on the date of switching to the SSI exemption scheme lapsed under Rule 57H(7) of the Central Excise Rules, 1944. On opting for exemption based on clearances, credit attributable to inputs in stock or used in finished goods was to be adjusted first, and any residual balance thereafter ceased to be available for duty payment. Because the claim sought refund of lapsed credit in RG 23A Part-II, rather than duty actually debited and paid, the earlier decision on refund of debited credit did not apply. Refund was therefore not admissible. en-us Thu, 11 Aug 2011 00:00:00 +0530 Tue, 11 Sep 2012 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216968 Unutilized MODVAT credit lying in the assessee's account on the date of switching to the SSI exemption scheme lapsed under Rule 57H(7) of the Central Excise Rules, 1944. On opting for exemption based on clearances, credit attributable to inputs in stock or used in finished goods was to be adjusted first, and any residual balance thereafter ceased to be available for duty payment. Because the claim sought refund of lapsed credit in RG 23A Part-II, rather than duty actually debited and paid, the earlier decision on refund of debited credit did not apply. Refund was therefore not admissible. Case-Laws Central Excise Thu, 11 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216968