TMI Blog2013 (10) TMI 1320X X X X Extracts X X X X X X X X Extracts X X X X ..... and shall be deemed to have been amended retrospectively in the manner as specified in the Second Schedule, on and from the corresponding date mentioned in column (3) of the Schedule. From this, it is evident that the amendment is effective from the date mentioned in the column (3) of the Second Schedule to the Finance Act, 2004 and the date mentioned is 1-3-2003. If that be so, the utilization of credit is permitted only w.e.f. 1-3-2003 and not prior to that date even though the credit might have accumulated on or after 1-4-2000. - Appellant would be liable to pay interest on the advance utilization of credit - Decided in favour of assessee. - E/4173/2005 and E/110/2006 - Final Order Nos. A/818-819/2013-WZB/C-IV(SMB) - Dated:- 1-10-2013 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. The learned Counsel for the appellant submits that Explanation to sub-rule (6) of Rule 3 of the Cenvat Credit Rules, 2002 reads as under :- Explanation. - For the removal of doubts, it is hereby declared that the credit of the additional duty of excise leviable under Section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) and paid on or after the 1st day of April, 2000, may be utilized towards payment of duty of excise leviable under the First Schedule or the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986). As per the Explanation, the appellant is eligible to utilize Cenvat credit of duty paid under ADE (GSI) Act on or after 1-4-2000. Therefore, the appellant is right ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5.1 Though as per the Explanation, it has been provided that additional duty of excise leviable under Section 3 of the ADE (GSI) Act, 1957 and paid on or after 1-4-2000, may be utilized towards payment of duty of excise leviable under the First Schedule or the Second Schedule to the Central Excise Tariff Act, 1985, as per Section 88 of the Finance Act, 2004, the date of effect of the amendment is from 1-3-2003 and the said Section clearly mentions that the explanation shall stand amended and shall be deemed to have been amended retrospectively in the manner as specified in the Second Schedule, on and from the corresponding date mentioned in column (3) of the Schedule. From this, it is evident that the amendment is effective from the date ..... X X X X Extracts X X X X X X X X Extracts X X X X
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