https://www.taxtmi.com/caselaws?id=53178 Modvat credit entered in RG 23A Part I within six months of the invoice was treated as validly availed under Rule 57G(2) of the Central Excise Rules, 1944. Once the credit was duly recorded within the prescribed period, no separate time-limit for its later utilisation towards duty payment was recognised. On that basis, recovery of the credit and the associated penalty were held to be unsustainable, because delayed utilisation alone did not defeat a credit properly taken in time. en-us Fri, 19 Mar 2004 00:00:00 +0530 Mon, 11 Oct 2010 13:37:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53178 Modvat credit entered in RG 23A Part I within six months of the invoice was treated as validly availed under Rule 57G(2) of the Central Excise Rules, 1944. Once the credit was duly recorded within the prescribed period, no separate time-limit for its later utilisation towards duty payment was recognised. On that basis, recovery of the credit and the associated penalty were held to be unsustainable, because delayed utilisation alone did not defeat a credit properly taken in time. Case-Laws Central Excise Fri, 19 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53178