https://www.taxtmi.com/caselaws?id=334754 Modvat credit on furnace oil used as fuel in manufacturing dutiable and exempted final products was not required to be reversed. A conjoint reading of Rule 57C(2) and (3) with Rule 57CC(1) and (9) shows that the separate inventory, account-maintenance, and reversal requirements do not apply to inputs used as fuel. The factual position noted was that furnace oil was used only as fuel, bringing it within the exclusion from Rule 57CC. Accordingly, credit on such furnace oil remained admissible. en-us Tue, 04 Oct 2016 00:00:00 +0530 Sat, 19 Nov 2016 16:58:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334754 Modvat credit on furnace oil used as fuel in manufacturing dutiable and exempted final products was not required to be reversed. A conjoint reading of Rule 57C(2) and (3) with Rule 57CC(1) and (9) shows that the separate inventory, account-maintenance, and reversal requirements do not apply to inputs used as fuel. The factual position noted was that furnace oil was used only as fuel, bringing it within the exclusion from Rule 57CC. Accordingly, credit on such furnace oil remained admissible. Case-Laws Central Excise Tue, 04 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334754