https://www.taxtmi.com/caselaws?id=53282 Unutilised Modvat credit could be transferred when a manufacturer shifted its factory to another site, provided the transferred stock of inputs as such or in process was duly accounted for and the statutory conditions under the applicable rules were satisfied. The rules did not require a direct one-to-one correlation between the credit balance in RG 23A and the exact physical quantum of inputs moved, so a restriction tying transfer of credit to the quantity of inputs transferred was unsustainable. The order limiting the transfer was therefore set aside, and the credit transfer was allowed. en-us Fri, 09 Jul 2004 00:00:00 +0530 Tue, 12 Oct 2010 13:20:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53282 Unutilised Modvat credit could be transferred when a manufacturer shifted its factory to another site, provided the transferred stock of inputs as such or in process was duly accounted for and the statutory conditions under the applicable rules were satisfied. The rules did not require a direct one-to-one correlation between the credit balance in RG 23A and the exact physical quantum of inputs moved, so a restriction tying transfer of credit to the quantity of inputs transferred was unsustainable. The order limiting the transfer was therefore set aside, and the credit transfer was allowed. Case-Laws Central Excise Fri, 09 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53282