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2016 (2) TMI 202 - AT - Central ExciseDuty liability - whether the finished goods i.e. bars and rods and ingots and billets lying in stock as on 1.8.99 is chargeable to duty at specific rate of duty as per the notification No.50/97 or standard rate of 16% advalorem? - Held that:- Commissioner (Appeals) in his order has dealt the issue in detail and clearly brought out that appellants have failed to produce any evidence that stock of goods lying in appellant's factory were manufactured prior to 1.9.1997. Further, we find that Revenue's verification report as per the appellant's monthly returns filed for the months of July 97 and March 99 the closing stock of bars and rods and billets are less than what was declared on 1.8.99. Therefore, in the absence of evidence that the stocks were manufactured prior to 1.8.97 duty is chargeable at 16% advalorem. Notification No.50/97 is applicable only to the goods which are manufactured prior to 1.9.97. Since the appellants have opted only on 1.8.99 and there is no evidence to show that the stocks were prior to 1.9.97 we find that rate of duty is applicable is as per the tariff rate of 16% advalorem. Therefore, we do not find any infirmity in the order of Commissioner (Appeals). Accordingly, the impugned order is upheld and the appeal is rejected. - Decided against assessee
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