https://www.taxtmi.com/caselaws?id=366197 The Supreme Court upheld the decision that manufacturers were not entitled to MODVAT credit on bought-out items exported as such to Vietnam. The Court emphasized that the items must be used in the manufacture of the final product within the factory to qualify for credit. The Court also noted the absence of excise duty payment on the exported goods, disqualifying the appellants from claiming credit. The Court rejected the time-bar plea and directed the re-computation of credit and penalties as per the remand directions. en-us Thu, 31 May 2018 00:00:00 +0530 Fri, 31 Aug 2018 07:18:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366197 The Supreme Court upheld the decision that manufacturers were not entitled to MODVAT credit on bought-out items exported as such to Vietnam. The Court emphasized that the items must be used in the manufacture of the final product within the factory to qualify for credit. The Court also noted the absence of excise duty payment on the exported goods, disqualifying the appellants from claiming credit. The Court rejected the time-bar plea and directed the re-computation of credit and penalties as per the remand directions. Case-Laws Central Excise Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366197