9911796707
TMI Blog2011 (11) TMI 335X X X X Extracts X X X X X X X X Extracts X X X X ..... hat credit of duty allowed to be taken by the recipient of the inputs is equivalent to the duty of excise specified in the schedule to the Central Excise Tariff. Inasmuch as duty required to be paid by the supplier of the goods in terms of the Excise Tariff Act was 14%, it has been held that if supplier chooses to pay higher rate, the same will not result in availability of higher credit to the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of 16% ad valoram instead of the applicable rate of duty of 14% ad valoram. As such, the authorities below by referring to the provisions of Rule 3 of Cenvat Credit Rules, 2004 have held that credit of duty allowed to be taken by the recipient of the inputs is equivalent to the duty of excise specified in the schedule to the Central Excise Tariff.Inasmuch as duty required to be paid by the suppli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ability of higher credit to the recipient. As such, at this prima facie stage, I find no justifiable reason to grant unconditional stay to the appellants. In any case, I note the amount of duty involved is to the extent of Rs.53,365/- only, the deposit of which cannot cause any financial hardship to the appellant. Accordingly, I direct the applicant 'appellant to deposit the said amount of duty wi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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