https://www.taxtmi.com/caselaws?id=265409 Modvat credit was not available on high speed diesel oil used to generate captive power for a cement plant because Rule 57B of the Central Excise Rules, 1944 did not cover that input. The Finance Act, 2000 retrospectively denied such credit from 16 March 1995 and validated past action, and the Supreme Court upheld that amendment. As a result, diesel used for captive power generation could not qualify for Modvat credit under the governing excise framework. en-us Tue, 12 Aug 2014 00:00:00 +0530 Sun, 11 Oct 2015 18:50:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265409 Modvat credit was not available on high speed diesel oil used to generate captive power for a cement plant because Rule 57B of the Central Excise Rules, 1944 did not cover that input. The Finance Act, 2000 retrospectively denied such credit from 16 March 1995 and validated past action, and the Supreme Court upheld that amendment. As a result, diesel used for captive power generation could not qualify for Modvat credit under the governing excise framework. Case-Laws Central Excise Tue, 12 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265409