https://www.taxtmi.com/caselaws?id=83303 Deemed MODVAT credit on waste and scrap of iron and steel and ship-breaking scrap was treated as admissible where the inputs were received in the factory while the scheme was still in force, even though the RG-23A Part-II entry was made after withdrawal of the facility. The operative principle was that credit accrued on receipt of the inputs and could not be taken away by a later amendment; the later register entry was only procedural. Maintenance of RG-23A Part-I records and undisputed receipt before the amendment supported entitlement to the credit, and the accrued benefit remained available despite the change in law. en-us Mon, 02 May 1994 00:00:00 +0530 Tue, 12 Jul 2011 16:05:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83303 Deemed MODVAT credit on waste and scrap of iron and steel and ship-breaking scrap was treated as admissible where the inputs were received in the factory while the scheme was still in force, even though the RG-23A Part-II entry was made after withdrawal of the facility. The operative principle was that credit accrued on receipt of the inputs and could not be taken away by a later amendment; the later register entry was only procedural. Maintenance of RG-23A Part-I records and undisputed receipt before the amendment supported entitlement to the credit, and the accrued benefit remained available despite the change in law. Case-Laws Central Excise Mon, 02 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83303