https://www.taxtmi.com/caselaws?id=46759 Accrued unutilised excise credit standing in the old register on 28 February 1986 in respect of oils and coolants was not treated as lapsed merely because those inputs were not then listed under the Modvat scheme. The analysis states that, in the absence of any express provision in the Modvat framework or valid rule-making power under Section 37 of the Central Excise Act to extinguish existing credit, the balance represented an accrued right. That right could therefore be carried forward and transferred to the new RG 23A Part II Register. en-us Tue, 14 Jan 2003 00:00:00 +0530 Fri, 23 Jul 2010 16:59:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46759 Accrued unutilised excise credit standing in the old register on 28 February 1986 in respect of oils and coolants was not treated as lapsed merely because those inputs were not then listed under the Modvat scheme. The analysis states that, in the absence of any express provision in the Modvat framework or valid rule-making power under Section 37 of the Central Excise Act to extinguish existing credit, the balance represented an accrued right. That right could therefore be carried forward and transferred to the new RG 23A Part II Register. Case-Laws Central Excise Tue, 14 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46759