2006 (9) TMI 388

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.... Bhagya Devi, SDR, for the Respondent. [Order per : P.G. Chacko, Member (J)]. -  This appeal is against rejection of a claim for refund of an amount of Rs. 3,64,337/- representing input-duty credit reversed by the appellants. Modvat credit of the above amount, taken on inputs used in the manufacture of a generic medicament viz. "Halothane", had been expunged by the appellant in RG.23A P....

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....it was chargeable to "Nil" rate of duty under the tariff. This final product was exported under bond. The above credit was reversed prior to such exportation. The party claimed refund of the credit amount merely on the ground that the final product was exported. The lower appellate authority rightly held that such a claim would have been admissible only if the final product (Halothane IP) had been....