https://www.taxtmi.com/caselaws?id=46102 Modvat credit on inputs remained admissible where goods were cleared under bond without payment of duty under the applicable notification, because such clearances were not treated as wholly exempt or nil-rated removals. On that basis, Rule 57C of the Central Excise Rules, 1944 was not attracted to deny credit. The Court accepted the Tribunal's view that bonded clearances under Rule 13 stood on a different footing from exempt or nil-rated goods and upheld reliance on decisions drawing that distinction. The assessee was therefore entitled to Modvat credit, and the issue was answered in favour of the assessee and against the Revenue. en-us Tue, 13 Feb 2001 00:00:00 +0530 Thu, 15 Jul 2010 17:26:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46102 Modvat credit on inputs remained admissible where goods were cleared under bond without payment of duty under the applicable notification, because such clearances were not treated as wholly exempt or nil-rated removals. On that basis, Rule 57C of the Central Excise Rules, 1944 was not attracted to deny credit. The Court accepted the Tribunal's view that bonded clearances under Rule 13 stood on a different footing from exempt or nil-rated goods and upheld reliance on decisions drawing that distinction. The assessee was therefore entitled to Modvat credit, and the issue was answered in favour of the assessee and against the Revenue. Case-Laws Central Excise Tue, 13 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46102