2015 (10) TMI 556 - SCH - Central Excise

Demand of duty - Manufacturing activity stopped due to hardship - Inability to pay excise duty - Invocation of Section 11A - Imposition of Compounded levy of tax - Supreme Court after condoning the delay dismissed the appeal filed by the Revenue against the decision of High Court 2014 (1) TMI 1335 - MADRAS HIGH COURT ; wherein High Court held that assessee had come under the compounded levy scheme with effect from 1997 and when they switched over to this, the credit lying unutilised, be in the inputs or in the final products, lapsed in terms of sub-rule (17) of Rule 57F - assessee has availed the benefit of a specially compounded levy scheme - therefore question of adjustment of the modvat credit as against the liability under Rule 96ZP, does not arise.