TMI Blog1997 (8) TMI 210X X X X Extracts X X X X X X X X Extracts X X X X ..... Vishal Steel Rolling Mills (2) E/442/96-NB Vivek Re-rolling Mills (3) E/443/96-NB Bajrang Steel Rolling Mills (4) E/444/96-NB Vivek Re-rolling Mills (5) E/445/96-NB Bajrang Steel Rolling Mills (6) E/452/96-NB Indian Mechanical Works 3. The facts of the case are that the appellants are a re-rolling mill without a furnace or melting arrangements. They procure materials from the market and claim the benefit of deemed Modvat credit in terms of Government of India Order No. TS/86/94-TRU, dated 1-3-1994. In respect of ingots and re-rollable materials of iron and steel purchased from outside and lying in stock on or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was indicated in the cash memo. He submits that since invoice assessment was introduced with effect from 1-4-1994 and M/s. Bharat Petroleum was not fully conversant with the requirement of law, therefore they issued the cash memo indicating the amount of duty paid on the petroleum products covered by the cash memo. He submits that subsequently particulars of the duty paying documents were also co-related and, therefore, the ld. Counsel submits that the co-relation was complete and prays that Modvat credit amounting to Rs. 11,791/- may be allowed. 6. Ld. Counsel also submitted that penalties have been imposed on the appellants in respect of A. No. E/441/96-NB and No. 445/96-NB and prays that in view of the fact that deemed Modvat credit wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ellants were entitled to the benefit of deemed Modvat credit even beyond the slab of Rs. 75 lakhs. 10. Regarding denial of Modvat credit of Rs. 11,791/- in respect of A. No. E/442/96-NB we find that M/s. Vivek Re-rolling Mills took Modvat credit on the strength of cash memo issued by the depot of M/s. Bharat Petroleum. We have perused the cash memo also. We find that no doubt the rate of duty and the amount of duty is indicated in the cash memo but there is no reference of the invoice or challan issued by the manufacturer. We note that in the absence of a reference to the duty paying documents the cash memo issued is not sufficient document for the purpose of taking Modvat credit in terms of Rule 57G of Central Excise Rules, 1944. We, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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