https://www.taxtmi.com/caselaws?id=53216 For capital goods imported under project import, the admissible Modvat credit is determined by the law in force on the date the goods are received in the factory, not by the date of installation or later actual availment. A prospective amendment removing the 75% restriction under Rule 57Q did not create retrospective entitlement to 100% credit for goods already received when the lower ceiling applied. The stated principle is that the quantum of credit accrues with receipt of the goods, and a later beneficial amendment cannot enlarge that vested entitlement for earlier receipts. en-us Fri, 12 Mar 2004 00:00:00 +0530 Wed, 17 Jul 2024 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53216 For capital goods imported under project import, the admissible Modvat credit is determined by the law in force on the date the goods are received in the factory, not by the date of installation or later actual availment. A prospective amendment removing the 75% restriction under Rule 57Q did not create retrospective entitlement to 100% credit for goods already received when the lower ceiling applied. The stated principle is that the quantum of credit accrues with receipt of the goods, and a later beneficial amendment cannot enlarge that vested entitlement for earlier receipts. Case-Laws Central Excise Fri, 12 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53216