https://www.taxtmi.com/caselaws?id=52625 Modvat credit on duty-paid inputs used in goods exported under bond cannot be denied merely because the finished product is treated as exempt or liable at nil rate in domestic tariff treatment. The article follows settled precedent that export under bond preserves entitlement to input credit, and a restrictive reading of the Modvat provisions would conflict with the export-incentive scheme. The practical effect is that denial of credit in such cases is not sustainable, and the assessee remains entitled to the credit. en-us Tue, 25 Nov 2003 00:00:00 +0530 Tue, 02 Jul 2024 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52625 Modvat credit on duty-paid inputs used in goods exported under bond cannot be denied merely because the finished product is treated as exempt or liable at nil rate in domestic tariff treatment. The article follows settled precedent that export under bond preserves entitlement to input credit, and a restrictive reading of the Modvat provisions would conflict with the export-incentive scheme. The practical effect is that denial of credit in such cases is not sustainable, and the assessee remains entitled to the credit. Case-Laws Central Excise Tue, 25 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52625