https://www.taxtmi.com/caselaws?id=48818 Rule 57H(1) was construed as a transitional Modvat credit provision operating independently of Rule 57G, with the disjunctive wording giving separate effect to inputs "lying in stock" and inputs "received in the factory after filing the declaration." On that reading, transitional credit was available for inputs received after the declaration even if they had been processed or used in manufacture. The deletion of clause (ii) was held not to apply retrospectively so as to defeat claims based on stock held before 5-5-1989; credit remained admissible on the rule as it then stood. Matters requiring verification of post-declaration receipt were remanded for factual reconsideration. en-us Fri, 09 Jun 2000 00:00:00 +0530 Fri, 06 Aug 2010 16:21:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48818 Rule 57H(1) was construed as a transitional Modvat credit provision operating independently of Rule 57G, with the disjunctive wording giving separate effect to inputs "lying in stock" and inputs "received in the factory after filing the declaration." On that reading, transitional credit was available for inputs received after the declaration even if they had been processed or used in manufacture. The deletion of clause (ii) was held not to apply retrospectively so as to defeat claims based on stock held before 5-5-1989; credit remained admissible on the rule as it then stood. Matters requiring verification of post-declaration receipt were remanded for factual reconsideration. Case-Laws Central Excise Fri, 09 Jun 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48818