https://www.taxtmi.com/caselaws?id=46180 Credit earned under the MODVAT scheme on duty-paid inputs accrues as a protected entitlement once validly taken, and a later notification cannot retrospectively extinguish that credit without clear express language. Clause 5 of Notification No. 36/98-C.E. was therefore treated as inapplicable to credit already standing to the assessee's account before 16-12-1998, especially where the notification itself saved goods manufactured before that date and cleared later. The existing MODVAT credit was protected and remained utilisable. en-us Wed, 22 Aug 2001 00:00:00 +0530 Tue, 15 Dec 2015 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46180 Credit earned under the MODVAT scheme on duty-paid inputs accrues as a protected entitlement once validly taken, and a later notification cannot retrospectively extinguish that credit without clear express language. Clause 5 of Notification No. 36/98-C.E. was therefore treated as inapplicable to credit already standing to the assessee's account before 16-12-1998, especially where the notification itself saved goods manufactured before that date and cleared later. The existing MODVAT credit was protected and remained utilisable. Case-Laws Customs Wed, 22 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46180