https://www.taxtmi.com/caselaws?id=81183 Credit validly availed on inputs received when deemed MODVAT credit was available under the then-operative instructions could not be reversed merely because a later amendment withdrew that benefit. The relevant event was receipt of the inputs and lawful availment of credit, not their continued presence in stock on the date of the amendment. Inputs already brought within the MODVAT scheme retained that character, so retrospective reversal was not permissible for stock remaining on the amendment date. en-us Wed, 05 Dec 1990 00:00:00 +0530 Wed, 22 Jun 2011 18:47:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=81183 Credit validly availed on inputs received when deemed MODVAT credit was available under the then-operative instructions could not be reversed merely because a later amendment withdrew that benefit. The relevant event was receipt of the inputs and lawful availment of credit, not their continued presence in stock on the date of the amendment. Inputs already brought within the MODVAT scheme retained that character, so retrospective reversal was not permissible for stock remaining on the amendment date. Case-Laws Central Excise Wed, 05 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=81183