https://www.taxtmi.com/caselaws?id=175011 Refund of accumulated Modvat credit was allowable for inputs used in manufacture of exported goods, because Rule 57F(4) and Rule 57F(13) permitted cash refund of outstanding credit relatable to those exports. The relevant credit had to be identified by reference to the period in which the export goods were manufactured and exported, and the later lapse provision under Rule 57F(17) did not justify treating that export-linked credit as lapsed. The clarificatory Board letter of 12.12.97 supported this reading. Refund was therefore payable, and reversal of credit earned in a subsequent period was not warranted. en-us Mon, 17 Apr 2000 00:00:00 +0530 Mon, 02 Nov 2015 18:03:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175011 Refund of accumulated Modvat credit was allowable for inputs used in manufacture of exported goods, because Rule 57F(4) and Rule 57F(13) permitted cash refund of outstanding credit relatable to those exports. The relevant credit had to be identified by reference to the period in which the export goods were manufactured and exported, and the later lapse provision under Rule 57F(17) did not justify treating that export-linked credit as lapsed. The clarificatory Board letter of 12.12.97 supported this reading. Refund was therefore payable, and reversal of credit earned in a subsequent period was not warranted. Case-Laws Central Excise Mon, 17 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175011