https://www.taxtmi.com/caselaws?id=288090 Modvat credit on furnace oil used as fuel could not be denied merely because the intermediate product manufactured with that fuel was cleared without payment of duty, since Rule 57C(3) expressly excludes fuel from reversal and the scheme of Rules 57C, 57CC and 57D does not require credit reversal in that situation. Rule 57CC also did not apply to transfer of the intermediate product between units on a stock transfer basis, because the provision operates only where exempt goods are sold and a stock transfer between units of the same manufacturer is not a sale. The Tribunal therefore held that the assessees were entitled to Modvat credit and consequential relief. en-us Thu, 05 Dec 2002 00:00:00 +0530 Tue, 19 May 2020 11:14:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288090 Modvat credit on furnace oil used as fuel could not be denied merely because the intermediate product manufactured with that fuel was cleared without payment of duty, since Rule 57C(3) expressly excludes fuel from reversal and the scheme of Rules 57C, 57CC and 57D does not require credit reversal in that situation. Rule 57CC also did not apply to transfer of the intermediate product between units on a stock transfer basis, because the provision operates only where exempt goods are sold and a stock transfer between units of the same manufacturer is not a sale. The Tribunal therefore held that the assessees were entitled to Modvat credit and consequential relief. Case-Laws Central Excise Thu, 05 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288090