https://www.taxtmi.com/caselaws?id=2701 Modvat credit on furnace oil used only as fuel remained admissible even though the assessee manufactured both dutiable and exempted goods without maintaining separate accounts or reversing 8% under Rule 57CC. The court noted that Rules 57C(2) and 57CC(1) and (9) apply a separate inventory and reversal mechanism to common inputs used in both classes of final products, but Rule 57C(3) expressly excludes inputs intended for use as fuel. On the admitted facts, furnace oil fell within that fuel exception, so the separate-account and reversal requirements did not apply and the credit was allowed. en-us Tue, 16 Oct 2007 00:00:00 +0530 Wed, 16 Apr 2008 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2701 Modvat credit on furnace oil used only as fuel remained admissible even though the assessee manufactured both dutiable and exempted goods without maintaining separate accounts or reversing 8% under Rule 57CC. The court noted that Rules 57C(2) and 57CC(1) and (9) apply a separate inventory and reversal mechanism to common inputs used in both classes of final products, but Rule 57C(3) expressly excludes inputs intended for use as fuel. On the admitted facts, furnace oil fell within that fuel exception, so the separate-account and reversal requirements did not apply and the credit was allowed. Case-Laws Central Excise Tue, 16 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2701