https://www.taxtmi.com/caselaws?id=113686 Modvat credit on intermediate products remained subject to the notification in force during the relevant period, so the 95% restriction applied to credit taken in February 1999. Rule 57J was treated as part of the same Modvat framework and not as an independent regime overriding Rule 57A or the notification-based limitation. Its function was to permit credit on intermediate products, but not to displace the scheme-wide restriction. The assessee therefore could not claim 100% credit and was confined to 95% credit under the applicable notification. en-us Thu, 11 Sep 2003 00:00:00 +0530 Mon, 07 May 2012 16:30:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113686 Modvat credit on intermediate products remained subject to the notification in force during the relevant period, so the 95% restriction applied to credit taken in February 1999. Rule 57J was treated as part of the same Modvat framework and not as an independent regime overriding Rule 57A or the notification-based limitation. Its function was to permit credit on intermediate products, but not to displace the scheme-wide restriction. The assessee therefore could not claim 100% credit and was confined to 95% credit under the applicable notification. Case-Laws Central Excise Thu, 11 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113686