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2008 (10) TMI 444 - AT - Central ExciseRebate - Quantum of - Export of watches and clocks - N/N. 10/2003-C.E., dated 1-3-2003 - Held that: - Exemption N/N. 10/2003-C.E., dated 1-3-2003 is applicable in respect of watches and clocks of retail price not exceeding ₹ 500/- per piece. Even though export price of watches may be less than ₹ 500/- as observed by the Commissioner (Appeals) but not confirmed by the ld. Advocate during the hearing. Rupee is currency of India, retail price cannot be affixed on the export goods. Therefore, the exemption Notification cannot be applied to watches sold in other countries. Since Indian Government has no control over sale price in respect of exported goods, it is clear that exemption notification is inapplicable to exported goods. Whether the appellants are encashing the Cenvat credit or not is not relevant, what is relevant is to be seen whether the contention of the Revenue is legally valid and correct - appeal allowed - decided in favor of appellant.
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