9911796707
TMI Blog2012 (9) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... is referred is as under :- "Whether the facility of deemed modvat credit under Ministry of Finance Order No. MF (DR)/Order/TS/36/94-TRU, dated 1-3-1994 would be available to the re-rollers even after crossing the monetary limit of Rs. 75 Lakhs in respect of value of clearances, in terms of Notification No. 1/93 dated 28-2-1993." 4. The answer to this question revolves round the interpretation to be placed on Notification No. 1/1993-Central Excise, dated February 28, 1993. By virtue of the power under sub-section (1) of Section 5A of the Central Excises and Salt Act, 1944 in public interest, the Central Government exempted from the payment of Excise duty the excisable goods specified in the annexure to the said notification which fall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the light of the judgment of the Tribunal dismissing the appeal and upholding the order of the Commissioner. In respect of the other two appeals the order of the Commissioner was set aside in view of a judgment of the Larger Bench which held that the assessee is not entitled to the benefit of exemption as the assessee had crossed the mark of Rs. 75 Lakhs. That is how at the instance of the revenue as well as the assessee these references are made. 6. The question involved in these proceedings was agitated before the High Court of Himachal Pradesh, in the case of Sood Steel Industrial (P) Ltd. v. Commissioner of Central Excise [2009 (241) E.L.T. 186 (HP)]. The Himachal Pradesh High Court held that the order of the Larger Bench [2000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, this benefit is extended to an assessee whose total clearances is less than Rs. 2 Crores. In other words this is a benefit extended to a small scale unit whose total clearances to not extend Rs. 2 Crores. In other words before an assessee can claim benefit under this notification, the first condition to be fulfilled is that his clearances should be less than Rs. 2 Crores. Once that condition is fulfilled, on the first Rs. 75 Lakhs clearances he can avail the benefit of concessional payment of rate of duty as prescribed under the notification, i.e. first Rs. 30 Lakhs, then Rs. 20 Lakhs and then Rs. 25 Lakhs. Therefore, the view of the Larger Bench that once the clearances exceed Rs. 75 Lakhs, the assessee is not entitled to concessional r ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
