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of <h1>Central Board Denies Retroactive Application of Amended Rule 57E for Modvat Credit Adjustments on Duty Demands.</h1> The circular addresses a request from trade representatives to apply the amended provisions of Rule 57E retroactively, allowing Modvat credit adjustments for duties arising from demands raised and paid after the fact. The Central Board of Excise & Customs examined the request and concluded that the rule, as it existed before the amendment, did not allow such variations. Consequently, it is not feasible to grant retrospective effect to the amendment. Any demands raised on this basis should be settled accordingly. The document requests acknowledgment of receipt.
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