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2017 (10) TMI 127 - AT - Central ExciseLoose Stock - duty liability - whether the loose stock shown in column (in Finishing room) is a finished stock or otherwise in order to levy duty as per rate prevailing prior to 15.12.98 or in term of section 3A after 15.12.98 or otherwise? - Held that: - Once the goods is manufactured in terms of Section 2 (f) which is not in dispute in the present case, the said goods become an excisable goods hence the same is finished goods - Accordingly the loose stock of fabric in the present case is Finished goods and the stock of such Finished goods lying as on 15.12.1998 will attract excise duty at the rate prevailing during the period prior to 15.12.2008 i.e 12% BED & 8% AED - the issue is no longer res-integra as it has been decided against the assessee by Divisional Bench of this Tribunal in the judgment of Vishnu Dying & Printing works [2005 (11) TMI 142 - CESTAT, MUMBAI], where it was held that The loose stock only refers to stock of finished goods which have not been packed as there is a separate entry for finished goods in the packed condition in the RG-1 register - appeal allowed - decided in favor of Revenue.
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