https://www.taxtmi.com/caselaws?id=174466 Eligibility under Notification No. 1/93-C.E. depended on the aggregate clearances in the preceding financial year and the exercise of the prescribed option for the relevant duty regime. The disqualifying condition applied only where the unit as a whole had exceeded the prescribed preceding-year limit; clearances above the concessional slab did not by themselves remove exemption status. On that basis, a manufacturer that had not crossed the aggregate eligibility threshold in the previous year continued to qualify as a unit availing exemption under the notification and was entitled to deemed Modvat credit. en-us Tue, 18 May 2004 00:00:00 +0530 Thu, 08 Oct 2015 16:48:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174466 Eligibility under Notification No. 1/93-C.E. depended on the aggregate clearances in the preceding financial year and the exercise of the prescribed option for the relevant duty regime. The disqualifying condition applied only where the unit as a whole had exceeded the prescribed preceding-year limit; clearances above the concessional slab did not by themselves remove exemption status. On that basis, a manufacturer that had not crossed the aggregate eligibility threshold in the previous year continued to qualify as a unit availing exemption under the notification and was entitled to deemed Modvat credit. Case-Laws Central Excise Tue, 18 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174466