https://www.taxtmi.com/caselaws?id=53344 Reversal of the actual Modvat credit attributable to inputs used in exempted goods satisfied compliance with Rule 57CC on the facts, even though separate records of common inputs were not maintained. The dispute was limited to the absence of separate records, and the reversed amount was not in dispute. As the assessee had already reversed the credit on the basis of its records, the statutory requirement under sub-rule (a) was treated as met. The assessee was therefore not liable to pay the 8% amount under Rule 57CC, and the Revenue's objection failed. en-us Thu, 08 Jul 2004 00:00:00 +0530 Tue, 12 Oct 2010 17:02:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53344 Reversal of the actual Modvat credit attributable to inputs used in exempted goods satisfied compliance with Rule 57CC on the facts, even though separate records of common inputs were not maintained. The dispute was limited to the absence of separate records, and the reversed amount was not in dispute. As the assessee had already reversed the credit on the basis of its records, the statutory requirement under sub-rule (a) was treated as met. The assessee was therefore not liable to pay the 8% amount under Rule 57CC, and the Revenue's objection failed. Case-Laws Central Excise Thu, 08 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53344