https://www.taxtmi.com/caselaws?id=52603 A restriction of 10% on Modvat credit for inputs used as fuel was applied to credit claimed under Rule 57B because the notification governing the scheme continued to operate despite reliance on the non obstante clause. The appellants were therefore entitled only to the prescribed extent, not the higher credit taken. Penalty for availing and retaining excess credit was also sustained because the excess was reversed only after it was pointed out and had remained with the appellants for a substantial period. The appeal consequently failed, with the credit restriction and penalty both affirmed. en-us Wed, 21 May 2003 00:00:00 +0530 Wed, 06 Oct 2010 17:58:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52603 A restriction of 10% on Modvat credit for inputs used as fuel was applied to credit claimed under Rule 57B because the notification governing the scheme continued to operate despite reliance on the non obstante clause. The appellants were therefore entitled only to the prescribed extent, not the higher credit taken. Penalty for availing and retaining excess credit was also sustained because the excess was reversed only after it was pointed out and had remained with the appellants for a substantial period. The appeal consequently failed, with the credit restriction and penalty both affirmed. Case-Laws Central Excise Wed, 21 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52603