Retrospective application of amendment to Rule 57E denied; Modvat credit variation not allowed for past demands. The Board declined retrospective effect for the 1987 amendment to Rule 57E, holding that the pre-amendment rule did not permit variation of Modvat credit for duties arising from demands raised and paid subsequently; demands already raised are to be settled under the existing law and practice.
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Retrospective application of amendment to Rule 57E denied; Modvat credit variation not allowed for past demands.
The Board declined retrospective effect for the 1987 amendment to Rule 57E, holding that the pre-amendment rule did not permit variation of Modvat credit for duties arising from demands raised and paid subsequently; demands already raised are to be settled under the existing law and practice.
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