https://www.taxtmi.com/caselaws?id=282828 Modvat/CENVAT credit was held inadmissible on furnace oil used as fuel in the manufacture of exempt goods cleared without payment of duty under Rule 57F(3). The court applied the Supreme Court's interpretation of the CENVAT scheme and held that the statutory bar on credit for inputs used in producing exempt final products extends to fuel inputs as well. The separate-accounting treatment of fuel under the scheme did not create an independent entitlement to credit. Accordingly, credit on furnace oil used in exempt manufacture was denied, and the issue was decided against the assessee and in favour of the Revenue. en-us Thu, 08 Nov 2012 00:00:00 +0530 Tue, 27 Aug 2019 14:29:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282828 Modvat/CENVAT credit was held inadmissible on furnace oil used as fuel in the manufacture of exempt goods cleared without payment of duty under Rule 57F(3). The court applied the Supreme Court's interpretation of the CENVAT scheme and held that the statutory bar on credit for inputs used in producing exempt final products extends to fuel inputs as well. The separate-accounting treatment of fuel under the scheme did not create an independent entitlement to credit. Accordingly, credit on furnace oil used in exempt manufacture was denied, and the issue was decided against the assessee and in favour of the Revenue. Case-Laws Central Excise Thu, 08 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282828