https://www.taxtmi.com/caselaws?id=243901 MODVAT credit under Rule 57H was considered admissible for duty-paid inputs lying in stock when the final product first became dutiable, including inputs contained in semi-finished or finished goods. The controlling test was whether the inputs were duty paid and available in stock on the relevant date, either as such or embedded in the product, and documentary proof of duty payment was sufficient. The Tribunal rejected the additional requirement that the inputs be shown in tangible physical form and held that the authority could not deny credit by adding a condition not found in the remand directions or by applying a first-come first-out approach. The penalties were set aside. en-us Tue, 26 Nov 2013 00:00:00 +0530 Thu, 13 Feb 2014 07:51:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243901 MODVAT credit under Rule 57H was considered admissible for duty-paid inputs lying in stock when the final product first became dutiable, including inputs contained in semi-finished or finished goods. The controlling test was whether the inputs were duty paid and available in stock on the relevant date, either as such or embedded in the product, and documentary proof of duty payment was sufficient. The Tribunal rejected the additional requirement that the inputs be shown in tangible physical form and held that the authority could not deny credit by adding a condition not found in the remand directions or by applying a first-come first-out approach. The penalties were set aside. Case-Laws Central Excise Tue, 26 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243901