https://www.taxtmi.com/caselaws?id=53185 Modvat credit lawfully availed and utilised on inputs and inputs contained in finished goods was not liable to reversal merely because the final products were later de-notified from Rule 57A. The notification caused only the unutilised balance of credit to lapse, and there was no express provision in the Act or Rules authorising recovery of credit already taken and used. Applying the principle that validly earned and utilised credit does not become irregular solely due to a later change in scheme coverage, the Tribunal held that the demand for reversal could not be sustained. en-us Fri, 13 Feb 2004 00:00:00 +0530 Mon, 11 Oct 2010 14:15:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53185 Modvat credit lawfully availed and utilised on inputs and inputs contained in finished goods was not liable to reversal merely because the final products were later de-notified from Rule 57A. The notification caused only the unutilised balance of credit to lapse, and there was no express provision in the Act or Rules authorising recovery of credit already taken and used. Applying the principle that validly earned and utilised credit does not become irregular solely due to a later change in scheme coverage, the Tribunal held that the demand for reversal could not be sustained. Case-Laws Central Excise Fri, 13 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53185