2002 (11) TMI 164

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..... arises from Order-in-Appeal No. 48/2000, dated 29-2-2000 is to whether the assessee is eligible for Modvat credit of Rs. 2,43,901/- taken on CVD paid by them covered under DEPB pass book and the same is reflected in the corresponding two Bills of entry dated 24-8-98. The Assistant Commissioner in his Order-in-Original noted that the assessee had manufactured and cleared PVC Plastics Flexible Hose .....

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..... ion 22 of Customs Act, 1962 under DEPB Scheme. 2. The assessee's contention is that the amount paid has entries on the Bill of Entries. The amount had been paid in the pass book and there was no cash payment but the endorsements of the said payments in pass book have been indicated in the bill of entries. They contended that so long as the Bill of Entry reflects the payment they are entitled to .....

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..... nputs and documents which are specified. He submits that the Bill of Entry is a specified document and it reflects the debit amount towards CVD. Therefore, Modvat credit taken by them is as per law. He submits that the documents of invoices issued under Rule 52A by the manufacturer also reflects similar debit of duty both under PLA which is cash payment and RG 23A debits which are only debits and .....

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..... procedure for provision of availment of Modvat credit in terms of the documents issued therein. One of the documents specified is Bill of Entry. In the present case there is no dispute that the Bill of Entry did carry the endorsement regarding the debit made in DEPB scheme towards CVD. The Revenue's contention is that mere debits in DEPB pass book is not sufficient but there should have been cash .....

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..... not see any substance in the Revenue's stand. Even the Commissioner (Appeals) has recorded in Para 7 that there is room for difference of opinion and on that account he has set aside the penalty. In my opinion availment of Modvat credit is required to be granted and hence the impugned order is set aside by allowing the appeal, with consequential relief, if any. - - TaxTMI - TMITax - Centr .....

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