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TMI Blog2018 (6) TMI 786X X X X Extracts X X X X X X X X Extracts X X X X ..... credit which was deferred. As such, it can be seen that it is a case where the appellant had earned the credit and has become entitled to the same and only making entries in RG-23A Part-II were delayed/left. As such, it is a case of correction of records and has no bearing on the appellant’s entitlement to take credit. The amended provisions talks about taking of credit in respect of inputs received on or after 1.3.2001 inasmuch as National Calamity Contingent Duty was imposed for the first time with effect from 1.3.2001 and in respect of inputs received prior to the said dates, no credit of such duty would have been available to the assessee. The assessee cannot be denied the credit in respect of inputs received by him prior to 1.3.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... day of March 2001, would be available as credit. 3. Though, the credit in the present appeal relates to the duties other than National Calamity Contingent Duty, Revenue entertained a view that inasmuch as goods were not received in the factory on or after first day of March 2001, the appellant would not be entitled to avail the credit of the same, in terms of the new provisions of Rule 57AB introduced vide Notification No. 6/2001-CE(NT). Accordingly, proceedings were initiated against them resulting in denial of credit to the tune of around ₹ 14.70 lakhs and imposing penalty. The order of the original adjudicating authority was upheld by Commissioner (Appeals) and hence the present appeal. 4. After hearing both the sides and af ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rio, the said rule talks about availment of credit in respect of goods received on or after 1.3.2001. In fact, the said issue stands clarified by the Board vide its Circular No. 76/76/94-CX. dated 8.11.1994. In an identical situations, the provisions for taking credit were amended from Rule 57AC to Rule 57AB with an identical condition of availment of credit of duty in respect of inputs received on or after 31.3.2000. Disputes arose in respect of inputs received prior to 31.3.2000 and it was clarified that inasmuch as an assessee has earned Modvat credit in respect of inputs received prior to 31.3.2000, he would be entitled to avail the Cenvat credit of duty paid on the same. 6. A logical interpretation of the provisions of Rule 57AB, as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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