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TMI Blog2011 (2) TMI 537X X X X Extracts X X X X X X X X Extracts X X X X ..... as reversed by the respondent in their MODVAT account and interest thereon paid within the prescribed period, the benefit of the amnesty scheme would not be admissible to them - It is submitted that such reversal of credit was done in terms of a clarificatory circular issued by the Board, viz. Circular No. 318/34/97-CX. dated 26-6-1997 - such a certificate of the Assistant Commissioner of Central ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cheme during the material period. The respondent had obtained the benefit of the said Notification in respect of the raw material imported by them under advance licence with an obligation for discharge of export obligation. Later on, the department found that input-stage credit had been availed in respect of the finished goods exported by the respondent in discharge of export obligation under the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctually not reversed and, therefore, the respondent is not entitled to the benefit of the amnesty scheme of the Central Government. In this connection, the learned JDR has referred to a certificate of the jurisdictional Assistant Commissioner of Central Excise, which indicates the credit required to be reversed in terms of the amnesty formula to be Rs. 87,158/- and the amount of MODVAT credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h, viz. CEAT Ltd. v. CCE, Nashik, 2009 (246) E.L.T. 436 (Tri.-Mumbai), wherein the relevant features of the amnesty scheme were discussed and the benefit of the said scheme covered by Circular No. 285/1/97-CX., dated 10-1-1997 issued by the Ministry of Finance (Department of Revenue) as clarified by CBEC in circular dated 26-6-1997 ibid., was directed to be given to the assessee. With reference to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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