9911796707
TMI Blog2003 (7) TMI 535X X X X Extracts X X X X X X X X Extracts X X X X ..... Paresh Seth, learned Advocate, submitted that as directed by the Tribunal the Appellants M/s. Galaxy Agrico Exports Ltd. have deposited Rs. 20,000/-. He further requested that as the issue involved is very simple one the appeal may also be heard. The learned D.R. does not have any objection. Accordingly, I take up the appeal itself for disposal. 2. The learned Advocate submitted that the appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 3A of the Central Excise Act; that explanation to notification provides that the payment is to be made directly by the manufacturer of the final products to the manufacturer of the said inputs by cheque drawn on his own bank account; that they have made the payment to M/s. Rashtriya Ispat Nigam Ltd. and M/s. Aslo Steel Ltd. as per the direction issued by the supplier of the inputs; that they ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the condition of the notification requires that invoices should be issued in the name of the supplier of the inputs which has not been done in the present matter and as such the deemed credit cannot be taken by them. 4. I have considered the submissions of both the sides. Explanation to Notification No. 58/97-C.E. reads as under : For the purpose of this notification, invoice price may be t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplier of the inputs by giving a certificate of receipt of the payment. It is also not a case of the Revenue that the inputs were received directly by the appellants from the factory of the supplier on which appropriate duty has been made by the suppliers. In these circumstances, denial of Modvat credit to the appellants will not be justified merely on the ground that the cheque were drawn in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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