2005 (6) TMI 16

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..... A/796/2005-WZB/C-IV, - Dated:- 20-6-2005 - [Order]. - The appellants are not disputing the confirmation of demand of duty of Rs. 3,914/- (Rupees Three Thousand Nine Hundred Fourteen Only) but challenge in the present appeal is to Modvat credit of Rs. 3,02,091/- (Rupees Three Lakh Two Thousand Ninety One Only) disallowed by the authorities below on the ground that the same was earned in respect .....

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..... d that during the relevant period, the proviso to erstwhile Rule 57 F (4) provided that the credit of specified duty allowed in respect of any inputs may be utilized towards payment of duty of excise on any other final product, whether or not such inputs have actually been used in the manufacture of such other final product, if the said inputs have been received and used in the factory of producti .....

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..... d. The appellate authority has correctly held that law enacted on 16-3-1995 cannot have retrospective effect. The various decisions relied upon by the Ld. Advocate do not deal with the issue involved. 3.In the case of Garg Industries [1996 (86) E.L.T. 495 (Tribunal)], it was held that there was no provision for lapse of modvat credit lying at any point of time and as such credit can be utilized .....

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