2000 (11) TMI 605

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..... , for the Respondent. [Order per : Gowri Shankar, Member (T)]. - The appellants imported, during the period between March, 1997 and November, 1998, components for the manufacture of machinery and electrical appliances and raw material (such as steel sheets) for the manufacture of such components. The goods were classified under heading 98.01 of the Customs tariff. This heading is for raw materi .....

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..... the restriction contained in Rule 57Q (3) would apply, disallowed the credit in excess of 75% of the additional duty paid and imposed equal amount of penalty. 2. The advocate for the appellant produce before us a circular No. 480/56/1999, dated 25-10-1999 of the Board. This circular explains that, heading 98.01 includes in addition to machinery, components or raw materials for manufacturing .....

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