https://www.taxtmi.com/caselaws?id=84827 Under the MODVAT scheme, accumulated credit in RG-23A was treated as unavailable once the final product became wholly exempt, because the scheme ceased to operate during the exemption period. Credit standing at the time of exemption could not be preserved for later use unless the rules specifically protected it, and on resumption of duty payment the assessee had to establish fresh eligibility under the MODVAT rules. The commentary also notes a competing view that lawfully taken credit could not be expunged without express authority, but the stated ratio follows the view that entitlement ends with full exemption. en-us Thu, 03 Aug 1995 00:00:00 +0530 Mon, 25 Jul 2011 18:29:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84827 Under the MODVAT scheme, accumulated credit in RG-23A was treated as unavailable once the final product became wholly exempt, because the scheme ceased to operate during the exemption period. Credit standing at the time of exemption could not be preserved for later use unless the rules specifically protected it, and on resumption of duty payment the assessee had to establish fresh eligibility under the MODVAT rules. The commentary also notes a competing view that lawfully taken credit could not be expunged without express authority, but the stated ratio follows the view that entitlement ends with full exemption. Case-Laws Central Excise Thu, 03 Aug 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84827