https://www.taxtmi.com/caselaws?id=102522 Entitlement to Modvat credit for storage tanks was confined to the express scope of Rule 57Q as it stood during the relevant period. Because the tanks fell under Chapter 73 and that chapter was not then covered as capital goods, credit was not available for March 2000. The later insertion of storage tanks into the capital goods list by Notification No. 6/2001-C.E. (N.T.) operated only from 01.03.2001 and could not be applied retrospectively. The denial of credit was therefore upheld, and the order disallowing Modvat credit remained undisturbed. en-us Wed, 17 Jul 2002 00:00:00 +0530 Wed, 15 Feb 2012 12:04:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102522 Entitlement to Modvat credit for storage tanks was confined to the express scope of Rule 57Q as it stood during the relevant period. Because the tanks fell under Chapter 73 and that chapter was not then covered as capital goods, credit was not available for March 2000. The later insertion of storage tanks into the capital goods list by Notification No. 6/2001-C.E. (N.T.) operated only from 01.03.2001 and could not be applied retrospectively. The denial of credit was therefore upheld, and the order disallowing Modvat credit remained undisturbed. Case-Laws Central Excise Wed, 17 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102522