https://www.taxtmi.com/caselaws?id=53866 Modvat credit was held allowable on duty-paid M.S. steel tubes removed under bond for export, as the credit mechanism continued to apply and the export clearance did not by itself justify denial. By contrast, where duty-paid goods were received back and then subjected to a process not amounting to manufacture before clearance as scrap, Rule 16 required reversal of the full credit taken on receipt. Credit was also denied on dismantling and erection charges because such charges were not goods and could not qualify as inputs or capital goods. Penalty was sustained in principle, but reduced on the facts. en-us Fri, 18 Feb 2005 00:00:00 +0530 Thu, 06 Jun 2024 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53866 Modvat credit was held allowable on duty-paid M.S. steel tubes removed under bond for export, as the credit mechanism continued to apply and the export clearance did not by itself justify denial. By contrast, where duty-paid goods were received back and then subjected to a process not amounting to manufacture before clearance as scrap, Rule 16 required reversal of the full credit taken on receipt. Credit was also denied on dismantling and erection charges because such charges were not goods and could not qualify as inputs or capital goods. Penalty was sustained in principle, but reduced on the facts. Case-Laws Central Excise Fri, 18 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53866