1997 (1) TMI 216

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..... President]. This reference application arises out of the order of the Tribunal bearing No. 483/96, dated 27-3-1996. The Tribunal has allowed the benefit of deemed Modvat credit in respect of inputs which were cleared from the suppliers factory after payment of duty under notification No. 175/86 in terms of Rule 57B. The following question of law has been urged for reference : - Whether t .....

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..... goods had been cleared on payment of duty under a notification of the type bearing No. 175/86. 4. We have considered the pleas made by the learned DR. We observe that Rule 57B envisages the grant of deemed Modvat credit when the goods were cleared under an exemption notification which has exempted the goods from payment of part of the duty or for the duty payable based on the value of the clear .....

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