https://www.taxtmi.com/caselaws?id=334257 MODVAT credit on imported goods could not be denied merely because the assessee took the balance credit after the period prescribed under Rule 57G of the Central Excise Rules, 1944. The credit entitlement had already arisen when the countervailing duty was paid, and the initial availment was only short of the full admissible amount. The later taking of the balance credit was treated as a correction of that short availment, not as a fresh or time-barred claim. Accordingly, the limitation in Rule 57G was held inapplicable to the differential credit, and the claim for the balance credit was upheld. en-us Tue, 30 Aug 2016 00:00:00 +0530 Tue, 08 Nov 2016 10:35:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334257 MODVAT credit on imported goods could not be denied merely because the assessee took the balance credit after the period prescribed under Rule 57G of the Central Excise Rules, 1944. The credit entitlement had already arisen when the countervailing duty was paid, and the initial availment was only short of the full admissible amount. The later taking of the balance credit was treated as a correction of that short availment, not as a fresh or time-barred claim. Accordingly, the limitation in Rule 57G was held inapplicable to the differential credit, and the claim for the balance credit was upheld. Case-Laws Central Excise Tue, 30 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334257