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TMI Blog2013 (7) TMI 639X X X X Extracts X X X X X X X X Extracts X X X X ..... ext. Yarn contained in the finish product - The assessee took double Cenvat credit, they took Cenvat Credit on duty paid Text. Yarn laying in the stock and also for the duty paid POY used in the manufacture of this duty paid Text. Yarn – Held that:- Notification No. 25/2003-CE dated 25.3.2003 intended to grant Cenvat credit in respect of inputs lying in stock as on 31.3.2003 but the goods claimed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e is any application for adjournment. With the assistance of Revenue appeal was taken up for disposal since notice was issued on 3rd June, 2013 adjourning the matter to 26.6.2013. 2. Precisely allegation of Revenue as is apparent from the show cause notice reads as under: Whereas, since CENVAT on yarn was allowed only from 1.4.2003, therefore, CENVAT was not admissible on the inputs (POY) whic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edit twice on 17651.52 kg of material [Grey Twisted W.I.P. (9882.00KG) +Grey twisted Finish Stock (143.84kr) + Dyeing W.I.P. (6777.41KG) + Dyeing Finish Stock (848.27 kg) = 17651.52 kg] first, by taking credit on POY contained with Grey Taxturised Yarn lying in W.I.P. and Grey Texturised yarn lying as finished Stock and secondly, by also taken credit of the duty paid on the same quantity of grey t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing to Rs.3,45,199/- [BED Rs.1,84,711/- + SED (T TA) Rs. 44,705/- + NCCD Rs. 2,462/-] during April, 2003 and as such they have contravened the provisions of rule 9A of the Cenvat Credit Rules, 2002. The excess Cenvat Credit amounting to Rs.3,45,199/- Is liable to be recovered from them under the provisions of rule 12 of the Cenvat Credit Rules, 2002. 3. Learned D.R. says that notification No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t credit on yarn which was already transformed into finished goods. Therefore, there was no input existed as such to entitle the appellant to avail Cenvat credit further after 31.3.2003. Accordingly, both the authorities below have rightly rejected the claim of the appellant which does not require any interference. Consequently, appeal is dismissed. (Dictated pronounced in the Open Court) - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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