https://www.taxtmi.com/caselaws?id=212133 A proviso inserted into Rule 57F(12) broadened Modvat credit utilisation by overriding the earlier restriction in Notification No. 5/1994-C.E. (N.T.). The amended text permitted credit of specified duty on inputs to be used for payment of excise duty on any other final product, even where those inputs were not actually used in making that product, provided the inputs were received and used in the factory on or after 1 March 1997. The statutory amendment therefore displaced the notification-based limitation and made utilisation of the credit towards basic excise duty on the final product legally permissible. en-us Thu, 07 Apr 2011 00:00:00 +0530 Mon, 09 Apr 2012 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212133 A proviso inserted into Rule 57F(12) broadened Modvat credit utilisation by overriding the earlier restriction in Notification No. 5/1994-C.E. (N.T.). The amended text permitted credit of specified duty on inputs to be used for payment of excise duty on any other final product, even where those inputs were not actually used in making that product, provided the inputs were received and used in the factory on or after 1 March 1997. The statutory amendment therefore displaced the notification-based limitation and made utilisation of the credit towards basic excise duty on the final product legally permissible. Case-Laws Central Excise Thu, 07 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212133