1998 (12) TMI 188 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai heard an application for waiver of payment of Rs. 38,13,728 Modvat credit wrongly availed by the appellant, engaged in manufacturing. The Government had exempted the goods from excise duty, but the appellant still claimed the credit. The Tribunal directed the appellant to freeze Rs. 10.00 Lakhs in their account to safeguard revenue, with waiver of pre-deposit and stay of recovery. Compliance was to be done by 28-12-1998.