https://www.taxtmi.com/caselaws?id=50953 Modvat credit on levy molasses used to manufacture rectified spirit remained admissible even though the spirit was ultimately used in the manufacture of country liquor, following the Tribunal's earlier ruling in the assessee's own case. The Tribunal also held that Rule 57CC applied to clearances of rectified spirit for non-excisable manufacture, requiring computation of 8% of the value of such clearances. The matter was remanded for fresh quantification of the amount payable or reversible under Rule 57CC and for reconsideration of penalty in light of the assessee's bona fide belief and the earlier order. en-us Fri, 07 Dec 2001 00:00:00 +0530 Mon, 20 Sep 2010 17:24:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50953 Modvat credit on levy molasses used to manufacture rectified spirit remained admissible even though the spirit was ultimately used in the manufacture of country liquor, following the Tribunal's earlier ruling in the assessee's own case. The Tribunal also held that Rule 57CC applied to clearances of rectified spirit for non-excisable manufacture, requiring computation of 8% of the value of such clearances. The matter was remanded for fresh quantification of the amount payable or reversible under Rule 57CC and for reconsideration of penalty in light of the assessee's bona fide belief and the earlier order. Case-Laws Central Excise Fri, 07 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50953