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2017 (6) TMI 856 - AT - Central Excise100% EOU - shortage of stock - polished granite slabs - the appellants being 100% EOU having goods stored in bonded premises for the intended purpose and having undertaken to export the goods produced within the 100% EOU, have not accounted for the said goods, duly. The shortage of polished granite slabs is due to unaccounted disposal of the same, as no explanation was offered by the appellant for such shortage - Held that: - the appellant being EOU are having bonded premises in which they undertake approved operations and the products arising out of such operation are to be exported. In case the same are to be cleared on Domestic Tariff Area (DTA), required procedure is to be followed. Admittedly, no such procedure has been followed by the appellant and the shortage of produced goods has not been explained. We note that the appellants are put to duty liability in terms of Section 3 (1) proviso. The said proviso stipulates the method of arriving at the quantum of duty of excise which shall be levied and collected at any excisable goods which are produced or manufactured by 100% EOU. Regarding the correctness of stock taking, the stock taking has been conducted in the presence of independent witnesses and the authorized representative of the appellant. The authorized representative in his statement dated 06/10/2000 clearly stated that physical stock verification was conducted in his presence and he was satisfied in the manner of stock taking. The shortage noticed in the present case is more than 600 sq. mtr. of polished granite slab. Appeal dismissed - decided against appellant.
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