https://www.taxtmi.com/caselaws?id=54475 Under the Modvat scheme, payment of the amount prescribed under Rule 57CC for exempt clearances was treated as compliance with Rule 57C where common inputs were used for both dutiable and exempt final products. The Tribunal noted that the manufacturers had paid 8% of the sale price of the exempted goods, and that such payment had been regarded in similar cases as equivalent to reversal of credit. Denial of Modvat credit on the ground that the inputs were common to both categories of final products was therefore unsustainable, and the demand for reversal could not be maintained. en-us Thu, 07 Apr 2005 00:00:00 +0530 Thu, 09 May 2024 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54475 Under the Modvat scheme, payment of the amount prescribed under Rule 57CC for exempt clearances was treated as compliance with Rule 57C where common inputs were used for both dutiable and exempt final products. The Tribunal noted that the manufacturers had paid 8% of the sale price of the exempted goods, and that such payment had been regarded in similar cases as equivalent to reversal of credit. Denial of Modvat credit on the ground that the inputs were common to both categories of final products was therefore unsustainable, and the demand for reversal could not be maintained. Case-Laws Central Excise Thu, 07 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54475