https://www.taxtmi.com/caselaws?id=89037 For inputs cleared as such after Modvat credit has been taken, Rule 57F(1)(ii) requires reversal of the credit already enjoyed and creates a limited legal fiction only to recover that credit. The relevant duty rate is therefore the rate in force when Modvat credit was originally availed, not the rate prevailing on the date of removal. The Tribunal followed the Larger Bench view that the provision restores the duty element embedded in the credit mechanism rather than applying the contemporaneous removal rate. en-us Tue, 05 May 1998 00:00:00 +0530 Thu, 22 Sep 2011 18:57:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89037 For inputs cleared as such after Modvat credit has been taken, Rule 57F(1)(ii) requires reversal of the credit already enjoyed and creates a limited legal fiction only to recover that credit. The relevant duty rate is therefore the rate in force when Modvat credit was originally availed, not the rate prevailing on the date of removal. The Tribunal followed the Larger Bench view that the provision restores the duty element embedded in the credit mechanism rather than applying the contemporaneous removal rate. Case-Laws Central Excise Tue, 05 May 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89037