Modvat credit admissibility recognized for capital goods received prior to the rule change, even if not yet brought into production. For capital goods procured and received into a factory prior to the rule change, specified-duty Modvat credit availed and utilised immediately upon receipt is admissible even if those goods were not actually installed or brought into production on the date of availment; the earlier circular limiting credit to installation applied only to initial factory setup and a subsequent notification introduced the installation requirement going forward.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Modvat credit admissibility recognized for capital goods received prior to the rule change, even if not yet brought into production.
For capital goods procured and received into a factory prior to the rule change, specified-duty Modvat credit availed and utilised immediately upon receipt is admissible even if those goods were not actually installed or brought into production on the date of availment; the earlier circular limiting credit to installation applied only to initial factory setup and a subsequent notification introduced the installation requirement going forward.
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