https://www.taxtmi.com/caselaws?id=51508 Modvat credit on capital goods should not be denied merely because the Rule 57T declaration was filed after the condonable period when the only lapse was procedural. The capital goods were received while the final product was exempt, but credit became relevant once the product became dutiable and the machines remained uninstalled. Rule 57T(13), as inserted by Notification No. 7/99-C.E. (N.T.), and the Board circular supported a liberal approach, and prior Tribunal rulings treated late declaration filing as insufficient by itself to defeat credit. Credit was therefore admissible despite the delayed declaration. en-us Thu, 16 May 2002 00:00:00 +0530 Sat, 25 Sep 2010 11:50:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51508 Modvat credit on capital goods should not be denied merely because the Rule 57T declaration was filed after the condonable period when the only lapse was procedural. The capital goods were received while the final product was exempt, but credit became relevant once the product became dutiable and the machines remained uninstalled. Rule 57T(13), as inserted by Notification No. 7/99-C.E. (N.T.), and the Board circular supported a liberal approach, and prior Tribunal rulings treated late declaration filing as insufficient by itself to defeat credit. Credit was therefore admissible despite the delayed declaration. Case-Laws Central Excise Thu, 16 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51508