https://www.taxtmi.com/caselaws?id=170537 Accrued Modvat credit could be used to discharge duty liability relating to a period before the credit lapsed on 1-3-1997, because the entitlement arose when the inputs were used and a later lapse provision could not defeat that vested credit. The demand was also required to be reduced because it had been computed for May 1996 to August 1996, although the clearances covered only May 1996 to July 1996. The discussion therefore supports adjustment of the lapsed credit against the earlier duty liability and correction of the excess demand. en-us Fri, 22 Nov 2013 00:00:00 +0530 Tue, 26 May 2015 18:46:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170537 Accrued Modvat credit could be used to discharge duty liability relating to a period before the credit lapsed on 1-3-1997, because the entitlement arose when the inputs were used and a later lapse provision could not defeat that vested credit. The demand was also required to be reduced because it had been computed for May 1996 to August 1996, although the clearances covered only May 1996 to July 1996. The discussion therefore supports adjustment of the lapsed credit against the earlier duty liability and correction of the excess demand. Case-Laws Central Excise Fri, 22 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170537