https://www.taxtmi.com/caselaws?id=109922 Modvat credit in RG 23A Part II lapses when a registered excise manufacturer permanently ceases operations and surrenders the registration certificate. Rule 174(8) required immediate surrender once manufacturing stopped, and the assessee was no longer entitled to remain a registered person for excise purposes after the premises were leased out and no stock remained. The relevant date was the date of surrender, not the later communication of cancellation, so the Department was not required to keep the registration alive for later debit entries or revive closed records. The amendment introduced by Notification No. 6/97-C.E. (N.T.) also supported the view that unutilised credit could not be carried forward after lapse. en-us Thu, 28 Aug 2003 00:00:00 +0530 Thu, 12 Apr 2012 18:15:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109922 Modvat credit in RG 23A Part II lapses when a registered excise manufacturer permanently ceases operations and surrenders the registration certificate. Rule 174(8) required immediate surrender once manufacturing stopped, and the assessee was no longer entitled to remain a registered person for excise purposes after the premises were leased out and no stock remained. The relevant date was the date of surrender, not the later communication of cancellation, so the Department was not required to keep the registration alive for later debit entries or revive closed records. The amendment introduced by Notification No. 6/97-C.E. (N.T.) also supported the view that unutilised credit could not be carried forward after lapse. Case-Laws Central Excise Thu, 28 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109922