9911796707
TMI Blog1993 (2) TMI 195X X X X Extracts X X X X X X X X Extracts X X X X ..... [Order per : R. Jayaraman, Member (T)]. This is an appeal from the Revenue against the Order of the Collector (Appeals) bearing No. GSM-179/89-AHD dated 19-3-1989 allowing the appeal of the respondents. 2. The issue involved is whether the respondents are entitled to take higher notional credit in respect of special excise duty after the amendment of Notification 175/86 with effect fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e maximum extent to which higher notional credit can be given is 5%, irrespective of whether it is basic duty or special excise duty. Hence if the respondents have paid duty at 5% basic and 0.25 special excise duty, they can get the benefit in terms of Notification 175/86 only up to 10.25% and not 10.5% as claimed. Hence the Revenue appeal is required to be allowed. Shri Sindhi however countered t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cified duties which are eligible for Modvat credit. When higher notional credit is given in respect of basic duty, it goes automatically, without saying that to that extent special excise duty would also be admissible for higher credit in terms of the provisions of the Finance Act. 4. After hearing both the sides, there cannot be any dispute that special excise duty is also one of the specified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uty. On a perusal of the Notification 175/86, dated 1-3-1986, as amended, it is clearly laid down that the maximum extent to which the higher notional credit can be given is specified at the rate of 5% ad valorem. This is not a case of denying the credit of special excise duty actually paid. It is a case of claiming higher notional credit of special excise duty. The Govt. have not denied the benef ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
