https://www.taxtmi.com/caselaws?id=3537 Modvat credit on duty-paid inputs is available when the inputs are received in the factory under the prescribed declaration procedure, and Rule 57CC applies only if the manufacturer's own final product is exempt from the whole of duty or chargeable at nil rate at that stage. A later nil-duty clearance of sulphuric acid under a notification conditional on the buyer's end use did not make the assessee's product an exempt final product for Rule 57CC purposes. The credit scheme does not allow reversal of validly availed credit merely because a subsequent conditional exemption results in clearance without duty. Rule 57CC therefore did not apply, and reversal of credit was not required. en-us Tue, 23 Jan 2007 00:00:00 +0530 Wed, 16 Apr 2008 19:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3537 Modvat credit on duty-paid inputs is available when the inputs are received in the factory under the prescribed declaration procedure, and Rule 57CC applies only if the manufacturer's own final product is exempt from the whole of duty or chargeable at nil rate at that stage. A later nil-duty clearance of sulphuric acid under a notification conditional on the buyer's end use did not make the assessee's product an exempt final product for Rule 57CC purposes. The credit scheme does not allow reversal of validly availed credit merely because a subsequent conditional exemption results in clearance without duty. Rule 57CC therefore did not apply, and reversal of credit was not required. Case-Laws Central Excise Tue, 23 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3537