https://www.taxtmi.com/caselaws?id=346982 An exemption notification granting nil duty up to aggregate clearances of Rs. 85 lakhs in a financial year, subject to non-availment of Modvat credit, was satisfied where credit was not taken during the exempt period. Availing Modvat credit only after crossing the threshold, while paying duty at the normal rate for later clearances, did not defeat the earlier exemption because there was no prohibition on opting out of the exemption mid-year. The demand was therefore not sustainable. en-us Thu, 23 Feb 2017 00:00:00 +0530 Sat, 26 Aug 2017 09:00:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346982 An exemption notification granting nil duty up to aggregate clearances of Rs. 85 lakhs in a financial year, subject to non-availment of Modvat credit, was satisfied where credit was not taken during the exempt period. Availing Modvat credit only after crossing the threshold, while paying duty at the normal rate for later clearances, did not defeat the earlier exemption because there was no prohibition on opting out of the exemption mid-year. The demand was therefore not sustainable. Case-Laws Central Excise Thu, 23 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346982