https://www.taxtmi.com/caselaws?id=48738 Modvat credit was treated as available on the actual duty paid on eligible inputs, including duty or differential duty paid after clearance but before finalisation of duty, because the scheme required credit to reflect the correct duty incidence. Rule 57E was regarded as clarificatory and procedural, operating retrospectively to the extent it provided the mechanism for adjustment where the duty on inputs was later varied. The effect was that credit could be adjusted to match the final duty paid on the inputs, and the contrary earlier view was disapproved. en-us Fri, 31 May 1996 00:00:00 +0530 Thu, 16 Nov 2023 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48738 Modvat credit was treated as available on the actual duty paid on eligible inputs, including duty or differential duty paid after clearance but before finalisation of duty, because the scheme required credit to reflect the correct duty incidence. Rule 57E was regarded as clarificatory and procedural, operating retrospectively to the extent it provided the mechanism for adjustment where the duty on inputs was later varied. The effect was that credit could be adjusted to match the final duty paid on the inputs, and the contrary earlier view was disapproved. Case-Laws Central Excise Fri, 31 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48738