https://www.taxtmi.com/caselaws?id=174578 Modvat credit validly taken on inputs used in goods exported under the Value Based Advance Licence scheme could not be denied or reversed merely because the exports were linked to Notification No. 203/92-Cus. The Tribunal held that the Modvat Rules form a self-contained code, so credit may be reversed only on grounds expressly provided in those Rules. Conditions attached to a customs exemption notification cannot be read into the Modvat framework to enlarge recovery powers. Any breach of the notification may attract customs consequences under the Customs Act, but it does not by itself justify denial of Modvat credit or refund where no violation of the Modvat Rules is shown. en-us Mon, 07 Jun 1999 00:00:00 +0530 Mon, 12 Oct 2015 11:56:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174578 Modvat credit validly taken on inputs used in goods exported under the Value Based Advance Licence scheme could not be denied or reversed merely because the exports were linked to Notification No. 203/92-Cus. The Tribunal held that the Modvat Rules form a self-contained code, so credit may be reversed only on grounds expressly provided in those Rules. Conditions attached to a customs exemption notification cannot be read into the Modvat framework to enlarge recovery powers. Any breach of the notification may attract customs consequences under the Customs Act, but it does not by itself justify denial of Modvat credit or refund where no violation of the Modvat Rules is shown. Case-Laws Central Excise Mon, 07 Jun 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174578