2004 (2) TMI 497

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..... for the Respondent. [Order per : Archana Wadhwa, Member (J)]. The prayer in the application is for dispensing with the condition of pre-deposit of duty amount of Rs. 7,56,221.00 (Rupees seven lakh fifty six thousand two hundred twenty one) by disallowing the Modvat credit claimed by the appellant @ 12% of the price declared by the input manufacturer in their invoices in terms of the Not .....

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..... Revenue authorities allowed the credit @ Rs. 750 per M.T., which was the duty actually paid by the inputs manufacturer as reflected in the invoices issued by him. The appellants claim that the duty at the deemed rate of 12% of the price declared by the input manufacturer in their invoices should be given to them in terms of the provisions of Notification No. 58/97, dated 30-8-1997. 3. We have .....

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..... showing appropriate payment of duty in terms of Section 3A would invariably be available for the assessee to avail the benefit of the said notification. If the view of the Revenue that it is the actual duty paid on the invoice, which has to be allowed as a credit is accepted then Para 2 of the notification which allows credit on the deemed rate of 12% becomes frustrated inasmuch as in no case such .....

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