1997 (1) TMI 200

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..... er of the Collector (Appeals) denying the benefit of Modvat credit of Rs. 61,334.60 on 49.280 MTs of steel plates lying in stock on 4-11-1992 in respect of which declaration under Rule 57G had been filed by the appellants on 29-1-1993, on the ground that permission under Rule 57H which is the relevant rule was filed belatedly on 28-7-1993. Learned Counsel, Ms. Ginni Bedi submits that the condition .....

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..... are lying in stock, or are received in the factory, on or after the 25th day of July, 1991 or (b) such inputs are used in the manufacture of final products which are cleared from the factory on or after the 25th day of July, 1991." In this case, the first condition has admittedly been satisfied. There is nothing to rebut the contention of the appellants that the second condition has also been .....

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