9911796707
TMI Blog2000 (2) TMI 435X X X X Extracts X X X X X X X X Extracts X X X X ..... rder per : V.K. Agrawal, Member (T)]. The issue involved in this appeal filed by M/s. Randhir Rolling Mills is whether the appellants can opt for exemption from payment of duty under notification No. 1/93 after opting out earlier for payment of duty and availment of Modvat credit. 2. When the matter was called no one was present on behalf of the appellants. We, therefore, heard Shri Ashok ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ification is concerned or non-availment of the exemption; that it is nowhere set out in the notification for option to be exercised between the exemption set out in clause a(i) and clause a(ii) of para 1 of the notification; that as the notification does not contain any condition of not to opt out from clause a (i) of paragraph 1 they were eligible to avail of total exemption from payment of duty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... serted in notification No. 1/93 by notification No. 59/94-CE dated 1-3-1994 with the specific intention to restrict the opting in and opting out of the Modvat credit facility during the financial year. He finally mentioned that the ratio of the decision in the case of Brooks Industries is not applicable as such as paragraph 5 was not in the notification No. 175/86 which was the subject matter in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a financial year and once the option has been exercised the duty has to be paid on all subsequent clearances of the goods made after availing such option in a financial year in which such date of option falls. It has not been disputed by the appellants that they had opted to pay the duty and availed of Modvat credit from 1-4-1995 and once they had availed of the option to pay duty they are barred ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
