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TMI Blog2017 (6) TMI 206X X X X Extracts X X X X X X X X Extracts X X X X ..... eir circular dated 6.3.2003 that credit availed prior to 1.3.2003 can be used for making payment of CENVAT duty after 1.3.2003. In the subsequent revised circular dated 30.9.2003, it has been clarified that such benefit of utilization after 1.3.2003 will not be extended to the goods received prior to 1.3.2003 but the credit on which availed was on or after 1.3.2003. The entire credit of AED (GS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on tyre cord fabrics used in the manufacture of final products. The dispute pertains to be period July 1999 to January 2000 and February 2000 to September 2000 and also February 2001 to May 2002 when they had availed the credit of AED. Till 1.3.2003, there were restrictions in the utilization of AED. AED credit could be utilized only for payment of AED on the finished products and not for payment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) for payment of CENVAT duty w.e.f 1.3.2003, the CBEC issued circular No.700/16/2003-CX dt.6.3.2003 in which it has been clarified that credit of AED (GSI) accrued prior to 1.3.2003 can be used for payment of CENVAT duty as well as AED (GSI). However, such a clarification was subsequently reversed by CBEC as per the opinion of Law Ministry, vide Circular No.751/67/2003-CX dt.30.9.2003. However, in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also February 2001 to May 2002. It stands clarified by CBEC vide their circular dated 6.3.2003 that credit availed prior to 1.3.2003 can be used for making payment of CENVAT duty after 1.3.2003. In the subsequent revised circular dated 30.9.2003, it has been clarified that such benefit of utilization after 1.3.2003 will not be extended to the goods received prior to 1.3.2003 but the credit on whic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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