https://www.taxtmi.com/caselaws?id=46960 Rule 57A of the Central Excise Rules, 1944 authorised the Government to notify final products, prescribe eligible inputs and impose conditions and restrictions on Modvat credit. On that construction, Notification No. 177/86 validly restricted credit to specified inputs and was not ultra vires. Credit taken on excluded inputs was therefore contrary to the notification and recoverable by reversal. The decision also treats penalty as sustainable where credit was knowingly availed in breach of the governing rule, and the absence of mala fides did not prevent penalty. en-us Mon, 08 Dec 2003 00:00:00 +0530 Mon, 26 Jul 2010 11:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=46960 Rule 57A of the Central Excise Rules, 1944 authorised the Government to notify final products, prescribe eligible inputs and impose conditions and restrictions on Modvat credit. On that construction, Notification No. 177/86 validly restricted credit to specified inputs and was not ultra vires. Credit taken on excluded inputs was therefore contrary to the notification and recoverable by reversal. The decision also treats penalty as sustainable where credit was knowingly availed in breach of the governing rule, and the absence of mala fides did not prevent penalty. Case-Laws Central Excise Mon, 08 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=46960