Home Case Index All Cases Central Excise Central Excise + HC Central Excise - 2019 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (2) TMI 1787 - HC - Central ExciseMoney Credit - Rule 57-O(2) of the Central Excise Rules, 1944 - applicability of the provisions only on inputs received after filing of the declaration under sub-rule (1), or it is also applicable or covers the inputs received before filing the declaration and if it covers the inputs received before filing the declaration - benefit of money credit under Rule 57-O of the said Rules - HELD THAT:- An assessee is put under a statutory obligation to file a declaration indicating to the Department the input intended to be used in the manufacture of the finished product and sub-rule (2) of Rule 57-O further makes it clear that a manufacturer who has filed a declaration in terms of sub-rule (1) may after obtaining the acknowledgment take credit of money on the inputs - Close reading of Rule 57-O of the Rules, 1944 makes it clear that filing a declaration is a condition precedent and it is only after filing a declaration and intimating the Department the input which the manufacturer intends to use, which would be only prospectively and only after satisfying the Assistant Collector of Central Excise with reference to any information which he may require and obtaining the acknowledgment may take the credit of money on the inputs.
|