Home Case Index All Cases Central Excise Central Excise + HC Central Excise - 2010 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (3) TMI 62 - PUNJAB & HARYANA HIGH COURTCompounding duty scheme – utilization of MODAVAT credit on stock transferred prior to opting for compounded levy scheme - The assessee adopted the compounded levy scheme on non alloy steel ingots with effect from 1.8.1997 by paying duty at the rate of Rs.5 lacs per month as full and final payment. According to the revenue, during the scrutiny, it revealed that the assessee had availed the modvat credit in excess as per notification dated 1.8.1997 and availed the same under modvat scheme as well. Consequently, a show cause notice was issued on the premises that the assessee having opted to work under the compounded levy scheme on non alloy steel ingots cannot utilize the input stage credit for discharging duty liability on alloy steel ingots. – held that the assessee was entitled to pay duty from modvat account of the manufacturer prior to opting for compounded levy scheme with regard to non alloy steel ingots and it
|