https://www.taxtmi.com/caselaws?id=184833 Modvat credit on capital goods was treated as available in a phased composite manufacturing project where the unit ultimately produced dutiable processed fabric. The analysis focused on the nature of the unit and the point at which the capital goods became relevant to dutiable manufacture, rather than on the fact that an earlier phase produced exempt grey fabric. Rule 57T was read as requiring declaration and acknowledgement, not prior permission to take credit. The commentary also notes that credit could be availed after production commenced and the factory was registered, while cases involving goods received before any dutiable product emerged were distinguishable. en-us Fri, 01 Aug 2003 00:00:00 +0530 Fri, 12 Jul 2024 17:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184833 Modvat credit on capital goods was treated as available in a phased composite manufacturing project where the unit ultimately produced dutiable processed fabric. The analysis focused on the nature of the unit and the point at which the capital goods became relevant to dutiable manufacture, rather than on the fact that an earlier phase produced exempt grey fabric. Rule 57T was read as requiring declaration and acknowledgement, not prior permission to take credit. The commentary also notes that credit could be availed after production commenced and the factory was registered, while cases involving goods received before any dutiable product emerged were distinguishable. Case-Laws Central Excise Fri, 01 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184833