9911796707
TMI Blog2009 (9) TMI 697X X X X Extracts X X X X X X X X Extracts X X X X ..... ellant is a public limited company engaged in the manufacture of textile yarns. They have been availing modvat credit of the duty paid on the inputs used by them in the manufacture of final products cleared by them on payment of duty. The appellant filed a declaration under Rule 57(H) on the duty paid inputs in stocks as on 21-3-1994. The appellant claimed a credit of Rs. 56,72,878/- in respect of inputs used in the aforesaid final products furnishing Annexure-A attached thereto all the required details inputs-wise as on 21-3-1994 setting out the gate pass numbers with dates, quantity and duty paid on the inputs including those that were received on or after 1-3-1994, that were lying in the godown, that were used in the final products under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt claims modvat credit on the total quantity of 1,17,845 kgs. of inputs under process. In the proceedings of the Deputy Commissioner of Central Excise, the claim to the extent of Rs. 17,45,013.99 was confirmed but the disallowance of 16,27,814.50 was not disturbed. Against the said order, the appellant preferred an appeal before the Commissioner of Central Excise who has confirmed the order of the Original Authority. The second appeal preferred by the Customs, Excise and Service Tax Appellate Tribunal was also dismissed. Against the said order, the present appeal is preferred by the appellant. 4. The learned Counsel appearing for the appellant assailing the impugned orders contend that the reasons given for disallowing the claim for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anufacture of the said final products (hereinafter referred to as the "inputs") and for utilizing the credit so allowed towards payment of duty of excise leviable on the final products, whether under the Act or under any other Act, as may be specified in the said notification, subject to the provisions of this Section and the conditions and restrictions that may be specified in the notification : Provided that the Central Government may specify the goods or classes of goods in respect of which the credit of specified duty may be restricted. Rule 57H - Transitional provisions. - [(1)] Notwithstanding anything contained in Rule 57G, the Assistant Collector of Central Excise may allow credit of the duty paid on inputs received by a manufactu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the factory on or after 1st day of March 1994 and that no credit has been taken by the manufacturer in respect of inputs under any other rule or notification. Therefore, all that has to be seen is to find out what is the stock lying in the factory as on 1st March 1994 and the duty paid on such inputs and thereafter, the benefit of credit of the said duty is to be given when the finished products are sold. The rule does not provide for any proof to be tendered by manufacturer showing the lying of the stock either in the godown, or in the manufacturing process or in the finished stage. In fact, while giving the declaration, the manufacturer has given particulars of the stocks lying at various stages though in law he was not required to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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