https://www.taxtmi.com/caselaws?id=99610 Rule 57H governed transitional Modvat credit for inputs received before acknowledgment of the declaration under Rule 57G and confined credit to the duty actually paid on such stock. Rule 57B, which provided higher credit for inputs procured from small scale manufacturers after opting for the Modvat scheme, was not intended to operate retrospectively on inputs already lying in stock. The scheme preserved a clear distinction between pre-declaration stock and post-declaration procurement, so the enhanced credit could not be extended to inputs held on the date of acknowledgment. Higher Modvat credit was therefore unavailable for that stock. en-us Fri, 27 Jul 2001 00:00:00 +0530 Sat, 28 Jan 2012 10:52:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99610 Rule 57H governed transitional Modvat credit for inputs received before acknowledgment of the declaration under Rule 57G and confined credit to the duty actually paid on such stock. Rule 57B, which provided higher credit for inputs procured from small scale manufacturers after opting for the Modvat scheme, was not intended to operate retrospectively on inputs already lying in stock. The scheme preserved a clear distinction between pre-declaration stock and post-declaration procurement, so the enhanced credit could not be extended to inputs held on the date of acknowledgment. Higher Modvat credit was therefore unavailable for that stock. Case-Laws Central Excise Fri, 27 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99610