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2017 (9) TMI 221 - AT - Central ExciseMODVAT/CENVAT credit - sale of capital goods on which MODVAT credit availed - Rule 57AB of Central Excise Rules, 1944 - Held that: - When capital goods are removed from the factory, the manufacturer has to pay appropriate duty of excise as if such capital goods have been manufactured in the said factory and such removal shall be made under the cover of an invoice prescribed under Rule 52A. The law in the relevant Explanation does not use the word sale or transfer of capital goods but instead uses the word removal as capital goods from the factory - The Hon’ble Apex Court in the case of JK. COTTON SPINNING AND WEAVING MILLS LTD. AND ANOTHER Versus UNION OF INDIA AND OTHERS [1987 (10) TMI 51 - SUPREME COURT OF INDIA], held that removal contemplates physical removal of goods - appeal allowed - decided in favor of appellant.
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