1998 (2) TMI 261

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..... er the impugned order disallowed the Modvat credit on the ground that the deemed credit cannot be claimed at a later stage. Being aggrieved by this order, the appellants have filed the present appeal. 2. The facts are that the appellants are engaged in the manufacture of re-rolling materials. They are obtaining raw materials from M/s. Rashtariya Ispat Nigam Ltd. (RIN for short) and on the streng .....

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..... arned Counsel appearing for the appellants submits that the appellants had taken the credit on the strength of the challans issued by the supplier (M/s. RIN). He submits that these challans indicated gate passes number as also the duty paid and the duty paid during the material period on the inputs was at a specific rate falling between Rs. 920/- and Rs. 1,000/- per MT and the mistake perhaps crep .....

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..... was not admissible to the appellants. The learned Counsel for the appellants submits that his alternative plea is that even if Modvat credit was not permissible on the strength of the duty paying documents the appellants are entitled to the benefit of deemed Modvat credit in terms of the Govt. of India Order during the material period. He submits that instead of considering the appellants reques .....

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..... med Modvat credit. On careful consideration of the submissions and on going through the records placed before me I find that there is no allegation about the nature of the documents produced on the strength of which Modvat credit can be taken. I also note that during the material period involved there were certain instructions of the Govt. of India accepting challans issued by the Public Sector Un .....

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..... ow the credit accordingly. Since I have held that the Modvat credit at the rate of Rs. 920/- per MT on the strength of the documents produced will be admissible to the appellants, the question of deemed Modvat credit does not arise. In the circumstances, I refrain from commenting whether deemed Modvat credit was admissible or not. 6. In view of the above findings, the impugned order is set aside .....

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