https://www.taxtmi.com/caselaws?id=325 Modvat credit remains admissible where duty-paid inputs are received in full and only moisture content evaporates during storage or feeding into manufacture. The applicable scheme treats credit by reference to the duty-paid inputs received in the factory, and negligible process-related moisture loss does not justify denial of credit when the inputs themselves are not lost before use. A contrary authority on loss of inputs was distinguished because it concerned loss of the input itself, not mere evaporation of moisture. The operative principle is that physical non-incorporation of moisture in the final product does not, by itself, defeat credit on the received duty-paid input. en-us Fri, 17 Dec 2004 00:00:00 +0530 Sun, 13 Apr 2008 13:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325 Modvat credit remains admissible where duty-paid inputs are received in full and only moisture content evaporates during storage or feeding into manufacture. The applicable scheme treats credit by reference to the duty-paid inputs received in the factory, and negligible process-related moisture loss does not justify denial of credit when the inputs themselves are not lost before use. A contrary authority on loss of inputs was distinguished because it concerned loss of the input itself, not mere evaporation of moisture. The operative principle is that physical non-incorporation of moisture in the final product does not, by itself, defeat credit on the received duty-paid input. Case-Laws Central Excise Fri, 17 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325