9911796707
TMI Blog2007 (12) TMI 332X X X X Extracts X X X X X X X X Extracts X X X X ..... s squarely covered by the Taxation of Laws (Amendment) Act, 2006 and Board’s Circular dated 26-7-2006 - The retrospective amendment in Rule 16 is aimed at facilitating “wire drawing units”, which had paid a sum equal to the duty leviable on “drawn wire“ after availing the credit of duty paid on inputs for the said period. It is aimed at regularizing availment of credits at two stages and payment o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Supreme Court. Hence, the appellant is not eligible to avail input stage credit on the wire rods, which were purchased by them. 3. Ld. Counsel submits that the issue is squarely covered by the Board Circular No. 831/8/2006-CX. dated 26-7-2006. 4. Ld. JDR submits that the appellant is not eligible for credit if final products are exempted from payment of duty. 5. On perusal of the record we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , would be eligible to avail the credit of duty paid on inputs and utilize the same for payment of duty on drawn wire for the period of amendment. The sum paid by the wire drawing unit in such cases will be treated as duty and shall be allowed as credit to the buyer of drawn wire in terms of the amendment. This amendment would not create any additional liability on any wire drawing unit which did ..... X X X X Extracts X X X X X X X X Extracts X X X X
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