2003 (10) TMI 132

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..... l products, took in April and May, 2000 the credit under Rule 57Q of the entire duty paid on pipes and pipe fittings brought into its factory. Sub-rule (2) of Rule 57AC prohibited the manufacturer from taking as credit more than half of the duty paid on the capital goods in the financial year in which the goods were received, deferring taking of credit of the remaining amount to subsequent financi .....

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..... red to pay interest on credit in terms of Section 11AA read with Rule 57AH. Rule 57AH provides that the provisions of Sections 11A, 11AA and 11AB of the Act would apply mutatis mutandis for recovery of credit that has been taken wrongly and interest on that credit. 4. Section 11A would apply where a person "chargeable with duty determined under sub-section (2) of Section 11A fails to pay the duty .....

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..... rson to whom the notice was issued, (iv) The person must fail to pay the duty within three months from the date of such determination. 5. In the case before me none of these requirements is satisfied. The credit wrongly taken was repaid within eight months before the issue of notice. Even if the appellant has not done so, debiting the wrong credit on its own, and only paid it after notice was iss .....

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