https://www.taxtmi.com/caselaws?id=116655 Rule 57F(17)(D) causing lapse of Modvat credit applied only where the manufacturer was liable to pay duty under Section 3A on 1-8-1997. As the assessee's Section 3A liability arose only from 1-9-1997, the operative date in the rule was not satisfied and the credit balance could not be treated as lapsed under that provision. The Revenue's challenge to the finding on the inapplicability of the rule failed, and the demand based on lapse of Modvat credit was held unsustainable. en-us Mon, 07 Nov 2005 00:00:00 +0530 Thu, 14 Jun 2012 15:36:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116655 Rule 57F(17)(D) causing lapse of Modvat credit applied only where the manufacturer was liable to pay duty under Section 3A on 1-8-1997. As the assessee's Section 3A liability arose only from 1-9-1997, the operative date in the rule was not satisfied and the credit balance could not be treated as lapsed under that provision. The Revenue's challenge to the finding on the inapplicability of the rule failed, and the demand based on lapse of Modvat credit was held unsustainable. Case-Laws Central Excise Mon, 07 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116655