https://www.taxtmi.com/caselaws?id=252715 Rule 57G(5) imposed a six-month procedural limit for availing Modvat credit on imported goods through a bill of entry. The limit applies from the bill of entry's date of issue, including where goods were imported before introduction of the time restriction, because the bill of entry is a prescribed credit document and the limitation regulates availment rather than extinguishing substantive entitlement. Credit taken after that period is therefore liable to reversal. Penalty for delayed credit need not follow where pre-amendment imports and the nature of the dispute justify relief from penal consequences. en-us Wed, 01 Oct 2014 00:00:00 +0530 Thu, 04 Jun 2015 16:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252715 Rule 57G(5) imposed a six-month procedural limit for availing Modvat credit on imported goods through a bill of entry. The limit applies from the bill of entry's date of issue, including where goods were imported before introduction of the time restriction, because the bill of entry is a prescribed credit document and the limitation regulates availment rather than extinguishing substantive entitlement. Credit taken after that period is therefore liable to reversal. Penalty for delayed credit need not follow where pre-amendment imports and the nature of the dispute justify relief from penal consequences. Case-Laws Central Excise Wed, 01 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252715