2005 (2) TMI 689

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..... and heard both sides. The issue raised in this appeal is about the Modvat credit taken by the appellant. It receives furnace oil from M/s. IOC Ltd. That furnace oil discharged duty and the duty paid is taken as Modvat credit by the appellant. Under the impugned order, part of the Modvat credit is disallowed on the ground that appellant received lesser quantity than the quantity invoiced. The grou .....

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..... ice price to the buyer makes no difference to the credit available as long as such deductions are not taken into consideration for the purpose of the assessment of the goods. Their contention is that the credit entitlement is equal to the duty paid. 3. The appellant s contention is entirely in terms of the Modvat Rules which allow credit equivalent to the duty paid on the consignment. Temperatur .....

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