https://www.taxtmi.com/circulars?id=6440 Retrospective Modvat credit arising from a change in classification or late clarification is not permitted where no timely statutory declaration was filed. The declaration is a verification safeguard to confirm receipt of inputs; conferring retrospective effect would hinder departmental control and risk misutilisation. Judicial authority supports denying retrospective effect to such declarations. Trade and field formations are to be informed of the decision and acknowledgments obtained. en-us Sat, 16 Feb 1991 00:00:00 +0530 Fri, 03 Jul 2009 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=6440 Retrospective Modvat credit arising from a change in classification or late clarification is not permitted where no timely statutory declaration was filed. The declaration is a verification safeguard to confirm receipt of inputs; conferring retrospective effect would hinder departmental control and risk misutilisation. Judicial authority supports denying retrospective effect to such declarations. Trade and field formations are to be informed of the decision and acknowledgments obtained. Circulars Central Excise Sat, 16 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/circulars?id=6440