https://www.taxtmi.com/caselaws?id=118945 Modvat credit is admissible where the invoice itself contains the particulars required by the relevant notification, because a procedural defect should not defeat substantive credit when the necessary facts are already on record. Credit cannot, however, be taken at a notional 12% rate if the input supplier actually paid duty at a lower rate, since the scheme ties credit to duty actually paid on the inputs. Where relief is granted only in part on the credit dispute, the penalty may be correspondingly reduced. en-us Tue, 29 Nov 2005 00:00:00 +0530 Fri, 06 Jul 2012 18:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118945 Modvat credit is admissible where the invoice itself contains the particulars required by the relevant notification, because a procedural defect should not defeat substantive credit when the necessary facts are already on record. Credit cannot, however, be taken at a notional 12% rate if the input supplier actually paid duty at a lower rate, since the scheme ties credit to duty actually paid on the inputs. Where relief is granted only in part on the credit dispute, the penalty may be correspondingly reduced. Case-Laws Central Excise Tue, 29 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118945