https://www.taxtmi.com/caselaws?id=54459 Reversal of the full Modvat credit attributable to common inputs used in manufacturing purified water was treated as sufficient compliance under the Modvat scheme, even though the water was captively consumed and partly cleared without duty. The settled position applied was that reversal of credit taken in excess of what was due cures the objection based on use of inputs in exempt goods, and the timing of reversal was not material. On that basis, the demand raised under Rule 57CC was held unsustainable and was set aside in favour of the assessee. en-us Tue, 12 Apr 2005 00:00:00 +0530 Wed, 20 Oct 2010 11:20:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54459 Reversal of the full Modvat credit attributable to common inputs used in manufacturing purified water was treated as sufficient compliance under the Modvat scheme, even though the water was captively consumed and partly cleared without duty. The settled position applied was that reversal of credit taken in excess of what was due cures the objection based on use of inputs in exempt goods, and the timing of reversal was not material. On that basis, the demand raised under Rule 57CC was held unsustainable and was set aside in favour of the assessee. Case-Laws Central Excise Tue, 12 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54459