https://www.taxtmi.com/caselaws?id=111882 Entitlement to additional Modvat credit under Rule 57E depended on the law in force when the inputs were received and credit was first taken. Where 95% credit had already been availed before the notification dated 28.02.1999 removed the restriction and restored 100% credit, the later amendment did not reopen entitlement to the remaining 5% on the same inputs. The date of the 57E certificate was not decisive; the operative date was the original credit-taking date. The revised provision applied only prospectively to credit taken on or after 28.02.1999, so excess credit was liable to be expunged. en-us Tue, 13 Jan 2004 00:00:00 +0530 Wed, 25 Apr 2012 16:52:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111882 Entitlement to additional Modvat credit under Rule 57E depended on the law in force when the inputs were received and credit was first taken. Where 95% credit had already been availed before the notification dated 28.02.1999 removed the restriction and restored 100% credit, the later amendment did not reopen entitlement to the remaining 5% on the same inputs. The date of the 57E certificate was not decisive; the operative date was the original credit-taking date. The revised provision applied only prospectively to credit taken on or after 28.02.1999, so excess credit was liable to be expunged. Case-Laws Central Excise Tue, 13 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111882