https://www.taxtmi.com/caselaws?id=51630 Modvat credit is admissible where countervailing duty is discharged through debit entries in a DEPB pass book and the Bill of Entry, a prescribed Modvat document, records that debit. Such DEPB debit constitutes effective duty payment equivalent in substance to cash payment. Denial of credit solely because payment was not made in cash would conflict with Modvat's purpose of preventing cascading duty. The importer is therefore entitled to credit of the countervailing duty evidenced by the endorsed Bill of Entry. en-us Mon, 25 Nov 2002 00:00:00 +0530 Mon, 27 Sep 2010 12:11:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51630 Modvat credit is admissible where countervailing duty is discharged through debit entries in a DEPB pass book and the Bill of Entry, a prescribed Modvat document, records that debit. Such DEPB debit constitutes effective duty payment equivalent in substance to cash payment. Denial of credit solely because payment was not made in cash would conflict with Modvat's purpose of preventing cascading duty. The importer is therefore entitled to credit of the countervailing duty evidenced by the endorsed Bill of Entry. Case-Laws Central Excise Mon, 25 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51630