https://www.taxtmi.com/caselaws?id=46670 Accrued credit under Notification No. 45/89 was treated as a vested benefit once the manufacturer had acted on the incentive scheme and altered its process, so rescission of the notification did not retrospectively extinguish credit already earned. However, the scheme limited utilisation of the credit to adjustment against excise duty on the specified final product and expressly barred refund or use against other goods. When excise duty on the final product was later abolished, the Court declined to create a new adjustment mechanism or read down the refund prohibition, leaving the scheme's utilisation limits intact. en-us Mon, 12 May 2003 00:00:00 +0530 Fri, 23 Jul 2010 12:17:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46670 Accrued credit under Notification No. 45/89 was treated as a vested benefit once the manufacturer had acted on the incentive scheme and altered its process, so rescission of the notification did not retrospectively extinguish credit already earned. However, the scheme limited utilisation of the credit to adjustment against excise duty on the specified final product and expressly barred refund or use against other goods. When excise duty on the final product was later abolished, the Court declined to create a new adjustment mechanism or read down the refund prohibition, leaving the scheme's utilisation limits intact. Case-Laws Central Excise Mon, 12 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46670