https://www.taxtmi.com/caselaws?id=51550 The proviso inserted into Rule 57AB(1)(b) could not be applied retrospectively to defeat Cenvat credit already taken and utilised in accordance with the main rule. Inputs received in the first fortnight of August 2000 were credited in RG-23A Part-II and used to pay duty on clearances made during that fortnight, so the utilisation was lawful. The Board circular was read only as clarifying that credit could not relate to inputs received beyond the relevant fortnight. Penalty under Rule 173Q(1) was therefore not warranted. en-us Mon, 07 Oct 2002 00:00:00 +0530 Sat, 25 Sep 2010 13:31:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51550 The proviso inserted into Rule 57AB(1)(b) could not be applied retrospectively to defeat Cenvat credit already taken and utilised in accordance with the main rule. Inputs received in the first fortnight of August 2000 were credited in RG-23A Part-II and used to pay duty on clearances made during that fortnight, so the utilisation was lawful. The Board circular was read only as clarifying that credit could not relate to inputs received beyond the relevant fortnight. Penalty under Rule 173Q(1) was therefore not warranted. Case-Laws Central Excise Mon, 07 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51550