https://www.taxtmi.com/caselaws?id=51736 For Modvat credit under Rule 57Q, the material date for determining eligibility and the extent of credit is the date on which imported capital goods are received in the factory, not the date of installation. Because the goods were received before 1-3-97, when the 75% restriction was introduced, the later limitation could not reduce the credit already accrued on receipt. The Board's circular supported this interpretation. The respondent was therefore entitled to 100% Modvat credit of the CVD, and the Revenue's challenge failed. en-us Mon, 10 Jun 2002 00:00:00 +0530 Tue, 28 Sep 2010 09:48:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51736 For Modvat credit under Rule 57Q, the material date for determining eligibility and the extent of credit is the date on which imported capital goods are received in the factory, not the date of installation. Because the goods were received before 1-3-97, when the 75% restriction was introduced, the later limitation could not reduce the credit already accrued on receipt. The Board's circular supported this interpretation. The respondent was therefore entitled to 100% Modvat credit of the CVD, and the Revenue's challenge failed. Case-Laws Central Excise Mon, 10 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51736