https://www.taxtmi.com/caselaws?id=52349 Modvat credit on duty-paid inputs remains admissible where finished goods manufactured from those inputs are later destroyed in a fire and duty on the goods is remitted. Remission of duty under the excise framework does not amount to a general exemption or nil-rate clearance, so it does not trigger denial or reversal of input credit merely because the final products were lost after manufacture. The Board's circular and prior Tribunal decisions support this position, and denial of credit in such circumstances is unsustainable. en-us Wed, 10 Sep 2003 00:00:00 +0530 Tue, 05 Oct 2010 13:01:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52349 Modvat credit on duty-paid inputs remains admissible where finished goods manufactured from those inputs are later destroyed in a fire and duty on the goods is remitted. Remission of duty under the excise framework does not amount to a general exemption or nil-rate clearance, so it does not trigger denial or reversal of input credit merely because the final products were lost after manufacture. The Board's circular and prior Tribunal decisions support this position, and denial of credit in such circumstances is unsustainable. Case-Laws Central Excise Wed, 10 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52349