2003 (9) TMI 224

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..... ator Ltd., is whether the Modvat credit of duty paid on inputs used in relation to manufacture of goods destroyed in fire is available to them. 2. Shri B.L. Narasimhan, learned Advocate, submitted that the Appellants manufacture refrigerator; that on 17-6-2000 there was a fire accident due to which refrigerators stored in newly constructed bonded room were destroyed; that immediately after fire .....

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..... ch were destroyed by fire and duty thereon had been remitted under Rule 49 of the Central Excise Rules; that "the final product had not suffered duty only as a result of remission of duty given on fulfilling the conditions, therefore, under Rule 49 which is not to be equated to a general exemption from duty or the goods being charged to nil rate of duty". The Tribunal, therefore, held that "invoki .....

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..... bsequently Central Board of Excise and Customs has also issued Circular dated 7-8-2002. In the present matter it is not in dispute that the inputs have been used in or in relation to the manufacture of the final product namely refrigerators which have been destroyed in fire. The Commissioner under the impugned Order has also granted remission of duty thereon. Accordingly following the ratio of the .....

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