Admissibility of Modvat credit due to change in classification - Modvat meeting held at Bombay on 7-5-1990 - Point No. 13 - Regarding

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..... Government of India Ministry of Finance (Department of Revenue) Central Board of Excise & Customs, New Delhi Subject : Admissibility of Modvat credit due to change in classification - Modvat meeting held at Bombay on 7-5-1990 - Point No. 13 - Regarding. I am directed to invite your attention to the minutes on point No. 13 of the Modvat meeting held at Bombay on 1-5-1990, on the above subject. .....

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..... e department to exercise control & thus lead to misutilisation of Modvat Credit. The provisions of Rule 57G do not warrant an interpretation so as to allow retrospective effect to that declaration. Several Judicial pronouncements too endorse the above view. It has therefore been decided. Not to accede to the suggestion to grant retrospective effect to the declarations. Trade & field formations ma .....

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