1998 (2) TMI 254

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..... [Order per : S.K. Bhatnagar, Vice President]. This stay application has been filed with reference to the order of the Commissioner (Appeals), New Delhi dated 19-9-1997. 2. Ld. Counsel stated that the appellants are manufacturers of HDPE/PP fabrics and sacks. They were availing Modvat credit during 1992-93, but w.e.f. 1-4-1993, they opted out of it and claimed exemption on clearances o .....

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..... ms of this Explanation where any inputs which are specified goods are used for further manufacture of specified goods within the factory of production of goods, clearance of such goods for job work shall not be taken into account for the purpose of calculating the aggregate value of clearances. Hence, the value of the semi-finished material sent out for job work and received back was not required .....

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..... cation 214/86, dated 25-3-1986. 7. In response to a query from the Bench, the ld. Counsel clarified that reference to the period 1992-93, during which they were operating under Modvat scheme was not called for as the entire case relates only to the period 1993-94. 8. He, further clarified that he is not pressing at this stage the question of valuation for the purpose of assessment. 9. He sub .....

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