9911796707
TMI Blog2005 (2) TMI 674X X X X Extracts X X X X X X X X Extracts X X X X ..... R, for the Respondent. [Order per : Krishna Kumar, Member (J)]. Heard both sides. The issue involved is whether the appellant is entitled to avail the credit of AED (GSI) prior to 1-4-2000. By virtue of Clause 88 of Finance (No. 2) Act 2004, Cenvat Credit Rules, 2002 were amended as under : - 88. Amendment of the Cenvat Credit Rules, 2002. - (1) In the Cenvat Credit Rules, 2002 made b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... material times. 2. The second Schedule is reproduced as under : THE SECOND SCHEDULE [See section 88(1)] Provision of the Cenvat Credit Rules, 2002 to be amended Amendment Date of effect of amendment (1) (2) (3) Explanation to clause (b) of sub-rule (6) of rule 3. In the Cenvat Credit Rules, 2002, in rule 3, in sub-rul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e that AED (GSI) paid on inputs on or after 1-4-2000 alone would be eligible for utilization towards payment of Cenvat duty. This amendment would come into effect on enactment of the Finance Bill. Effect of this amendment is that the credit of AED (GSI) against BED will be applicable only if the AED (GSI) was paid on or after 1-4-2000, the date from which separate accounting for AED (GSI) was disp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re, direct the appellant to deposit Rs. 25 Lakhs towards the duty amount by 31-3-2005. The compliance is to be reported on 12-4-2005. On such pre-deposit being made, we dispense with the pre-deposit of balance amount of duty and entire amount of penalty. Subject to compliance being reported, the appeal will be finally heard on 25-4-2005. (Pronounced in Court). - - TaxTMI - TMITax - Central E ..... X X X X Extracts X X X X X X X X Extracts X X X X
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