https://www.taxtmi.com/caselaws?id=261505 CENVAT credit on input services received before 01.03.2006 remained admissible when taken on 01.04.2006, because the credit had already accrued under the earlier regime. Rule 4(7) of the CENVAT Credit Rules, 2004 allowed availment on the date of payment, and Notification No. 1/2006-ST contained no express provision lapsing credit already earned on prior services. The later notification was therefore applied prospectively and could not destroy vested credit rights. The disallowance was set aside and the assessee's entitlement to the credit was upheld. en-us Thu, 09 Apr 2015 00:00:00 +0530 Mon, 29 Feb 2016 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261505 CENVAT credit on input services received before 01.03.2006 remained admissible when taken on 01.04.2006, because the credit had already accrued under the earlier regime. Rule 4(7) of the CENVAT Credit Rules, 2004 allowed availment on the date of payment, and Notification No. 1/2006-ST contained no express provision lapsing credit already earned on prior services. The later notification was therefore applied prospectively and could not destroy vested credit rights. The disallowance was set aside and the assessee's entitlement to the credit was upheld. Case-Laws Service Tax Thu, 09 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261505