https://www.taxtmi.com/caselaws?id=88191 Modvat credit on inputs was treated as having accrued when the inputs were received and the entitlement was governed by the notification then in force. Withdrawal of the Modvat facility for the final product did not operate retrospectively to extinguish a right that had already crystallised, and there was no specific provision permitting recovery of credit already validly taken and utilised merely because the scheme was later withdrawn. The previously availed and utilised credit therefore could not be reversed on that ground, and the revenue challenge failed. en-us Wed, 13 Dec 1995 00:00:00 +0530 Thu, 15 Sep 2011 17:25:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88191 Modvat credit on inputs was treated as having accrued when the inputs were received and the entitlement was governed by the notification then in force. Withdrawal of the Modvat facility for the final product did not operate retrospectively to extinguish a right that had already crystallised, and there was no specific provision permitting recovery of credit already validly taken and utilised merely because the scheme was later withdrawn. The previously availed and utilised credit therefore could not be reversed on that ground, and the revenue challenge failed. Case-Laws Central Excise Wed, 13 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88191