https://www.taxtmi.com/caselaws?id=122135 Transitional Modvat credit under Rule 57H read with Rule 57G is available where duty-paid inputs are in stock or received during the intervening period before filing the Rule 57G declaration, provided the requisite declaration is filed and the inputs are identifiable from the record. The absence of a rigid time limit for the transitional declaration was treated as significant, and credit could not be denied merely because the filing sequence placed receipt before acknowledgment, if the statutory conditions were otherwise satisfied. On that basis, the denial of Modvat credit and the consequential penalty were held unsustainable. en-us Wed, 08 Nov 2006 00:00:00 +0530 Wed, 08 Aug 2012 18:04:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122135 Transitional Modvat credit under Rule 57H read with Rule 57G is available where duty-paid inputs are in stock or received during the intervening period before filing the Rule 57G declaration, provided the requisite declaration is filed and the inputs are identifiable from the record. The absence of a rigid time limit for the transitional declaration was treated as significant, and credit could not be denied merely because the filing sequence placed receipt before acknowledgment, if the statutory conditions were otherwise satisfied. On that basis, the denial of Modvat credit and the consequential penalty were held unsustainable. Case-Laws Central Excise Wed, 08 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122135