2001 (3) TMI 375

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..... , Member (J)]. In this case, Modvat credit of Rs. 2,41,527/- has been disallowed and its recovery ordered under Rule 57-I of the Central Excise Rules, to the appellants who are manufacturers of 100% cotton yarn, on cotton waste received from 100% EOU, on the ground that the cotton waste was chargeable to nil rate of duty leviable under Section 3 of the Customs Tariff Act, 1975 during the rel .....

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..... ed by the recent decision of the Apex Court in the case of Collector of Customs v. Presto Industries reported in 2001 (128) E.L.T. 321 wherein the Supreme Court has held that the additional duty is in addition to customs duty leviable under the Customs Act, and not a countervailing duty and since the additional duties of customs were not paid on waste and scrap of imported cellulose accetate sheet .....

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