https://www.taxtmi.com/caselaws?id=527 An exemption notification under Central Excise law must be read consistently with the Modvat scheme, and it cannot override the mandatory bar in Rule 57C against input credit for exempt or nil-rated clearances. A manufacturer who availed Modvat credit on inputs and reversed it only later could not use that reversal to satisfy the exemption conditions. The earlier view in Orissa Extrusions was held not to state the correct law in light of the three-Judge Bench decision in Ichalkaranji Machine Centre Pvt. Ltd. The assessee was therefore not entitled to the exemption or refund claimed. en-us Tue, 25 Jul 2006 00:00:00 +0530 Thu, 18 Sep 2025 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=527 An exemption notification under Central Excise law must be read consistently with the Modvat scheme, and it cannot override the mandatory bar in Rule 57C against input credit for exempt or nil-rated clearances. A manufacturer who availed Modvat credit on inputs and reversed it only later could not use that reversal to satisfy the exemption conditions. The earlier view in Orissa Extrusions was held not to state the correct law in light of the three-Judge Bench decision in Ichalkaranji Machine Centre Pvt. Ltd. The assessee was therefore not entitled to the exemption or refund claimed. Case-Laws Central Excise Tue, 25 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=527