https://www.taxtmi.com/caselaws?id=51812 Exemption under Notification No. 202/88-C.E. turned on whether Modvat credit on inputs used in exempted final products was reversed before removal of the goods. The majority view applied Chandrapur Magnet Wires to hold that reversal can satisfy the non-availment condition only if the debit entry is made before clearance; reversal after clearance left the exemption condition unfulfilled and sustained the demand. A concurring view treated monthly reversal as sufficient because the credit remained reversed in substance, while the dissent held that the benefit could not be denied merely because reversal occurred after clearance and would have allowed the appeal. en-us Tue, 16 Jul 2002 00:00:00 +0530 Tue, 28 Sep 2010 15:13:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51812 Exemption under Notification No. 202/88-C.E. turned on whether Modvat credit on inputs used in exempted final products was reversed before removal of the goods. The majority view applied Chandrapur Magnet Wires to hold that reversal can satisfy the non-availment condition only if the debit entry is made before clearance; reversal after clearance left the exemption condition unfulfilled and sustained the demand. A concurring view treated monthly reversal as sufficient because the credit remained reversed in substance, while the dissent held that the benefit could not be denied merely because reversal occurred after clearance and would have allowed the appeal. Case-Laws Central Excise Tue, 16 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51812