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2008 (8) TMI 239 - RAJASTHAN HIGH COURTCredit on indigenous inputs used in manufacture of goods exported under Advance Licence Scheme - the sine qua non for entitlement of Modvat credit is, that the final product should have suffered the incident of excise duty – therefore, assessee had wrongly availed the Modvat credit – further, Modvat credit should not have been availed, not only at the precise point of time when the declaration is given, but the benefit should not have been availed with respect to the inputs used in manufacture of the finished products, which was sought to be exported under AR4 at any time in future
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