https://www.taxtmi.com/caselaws?id=471910 Capacity-based duty, being unrelated to the quantity or value of finished goods or the use of inputs, displaced the input-output correlation underlying the MODVAT scheme. The related amendments rendered the accumulated MODVAT credit balance unavailable from 1 August 1997, including credit attributable to unused inputs, work-in-progress and capital goods. They effected a statutory lapse of the available balance only; they did not require a separate reversal or recovery of such credit. Treating lapsed balance credit as recoverable again would create double recovery without legal authority. Exemption-based reversal principles did not govern this statutory transition. en-us Wed, 18 Jun 2003 00:00:00 +0530 Wed, 23 Sep 2026 12:16:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471910 Capacity-based duty, being unrelated to the quantity or value of finished goods or the use of inputs, displaced the input-output correlation underlying the MODVAT scheme. The related amendments rendered the accumulated MODVAT credit balance unavailable from 1 August 1997, including credit attributable to unused inputs, work-in-progress and capital goods. They effected a statutory lapse of the available balance only; they did not require a separate reversal or recovery of such credit. Treating lapsed balance credit as recoverable again would create double recovery without legal authority. Exemption-based reversal principles did not govern this statutory transition. Case-Laws Central Excise Wed, 18 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471910