Modvat credit on subsidiary gatepasses was denied after the notification cut-off date had expired.

Modvat credit on subsidiary gatepasses was held inadmissible where it was availed after the 30 June 1994 cut-off fixed by Notification No. 16/94. The temporal limit in the notification was treated as decisive, and a claimed minor irregularity could not override expiry of the prescribed period. The denial of credit was therefore upheld and the appeal rejected.

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Issues: Whether Modvat credit on subsidiary gatepasses was admissible when availed after the cut-off date prescribed in Notification No. 16/94.

Analysis: Notification No. 16/94 fixed 30 June 1994 as the cut-off date for availing Modvat credit on subsidiary gatepasses. The credit in question had admittedly been taken after that date. Once the prescribed temporal limit had expired, the credit could not be allowed on the basis of the asserted minor irregularity.

Conclusion: The denial of Modvat credit was upheld and the appeal was rejected.

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