https://www.taxtmi.com/caselaws?id=118976 Withdrawal of Modvat benefit under amended Rule 57F(17) was confined to the unutilized credit balance in the assessee's records. The notification did not authorise a duty demand on inputs already lying in stock, or on inputs contained in finished goods and work in progress, because such an expansion was not supported by the text and was inconsistent with the Modvat scheme. Earlier decisions were followed to confirm that only the unutilized credit balance could lapse, and no further duty could be recovered on stock or work-in-progress inputs. en-us Tue, 20 Dec 2005 00:00:00 +0530 Sat, 07 Jul 2012 12:03:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118976 Withdrawal of Modvat benefit under amended Rule 57F(17) was confined to the unutilized credit balance in the assessee's records. The notification did not authorise a duty demand on inputs already lying in stock, or on inputs contained in finished goods and work in progress, because such an expansion was not supported by the text and was inconsistent with the Modvat scheme. Earlier decisions were followed to confirm that only the unutilized credit balance could lapse, and no further duty could be recovered on stock or work-in-progress inputs. Case-Laws Central Excise Tue, 20 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118976