https://www.taxtmi.com/caselaws?id=266803 A prospective amendment to Rule 57AB(1)(b) restricted Cenvat credit utilisation to the credit available on the last day of the relevant fortnight for duty payment for that fortnight. Credit accruing in the subsequent period could not be used to discharge duty for an earlier fortnight, so the duty liability had to be paid in cash. The article also notes that the penalty imposed under Rule 173C(1) was not sustained, as the immediate post-amendment factual setting justified relief from penal consequences even though the duty demand remained upheld. en-us Mon, 14 Sep 2015 00:00:00 +0530 Sat, 24 Oct 2015 07:52:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266803 A prospective amendment to Rule 57AB(1)(b) restricted Cenvat credit utilisation to the credit available on the last day of the relevant fortnight for duty payment for that fortnight. Credit accruing in the subsequent period could not be used to discharge duty for an earlier fortnight, so the duty liability had to be paid in cash. The article also notes that the penalty imposed under Rule 173C(1) was not sustained, as the immediate post-amendment factual setting justified relief from penal consequences even though the duty demand remained upheld. Case-Laws Central Excise Mon, 14 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266803