https://www.taxtmi.com/caselaws?id=257447 Duty demand under Rule 57CC could not be mechanically sustained where the assessee was willing to reverse the actual Modvat credit attributable to inputs used in exempted goods. The Tribunal held that, in the absence of an effective machinery to recover the percentage amount contemplated by the rule, the correct course was to quantify the precise credit availed on such inputs. The confirmation of duty was set aside and the matter remanded for quantification of the credit relatable to exempted goods; the penalty was also set aside. en-us Wed, 02 Jul 2014 00:00:00 +0530 Thu, 12 Mar 2015 10:13:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257447 Duty demand under Rule 57CC could not be mechanically sustained where the assessee was willing to reverse the actual Modvat credit attributable to inputs used in exempted goods. The Tribunal held that, in the absence of an effective machinery to recover the percentage amount contemplated by the rule, the correct course was to quantify the precise credit availed on such inputs. The confirmation of duty was set aside and the matter remanded for quantification of the credit relatable to exempted goods; the penalty was also set aside. Case-Laws Central Excise Wed, 02 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257447