TMI Blog2010 (10) TMI 1030X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in respect of inputs used in the manufacture of final product cleared under N/N. 30/2004 stands reversed by them and as such the same amounts to the fact as if no credit has been availed - Held that: - reliance was placed in the case of COMMISSIONER OF CENTRAL EXCISE Versus ASHIMA DYECOT LTD. [2008 (9) TMI 87 - HIGH COURT GUJARAT], where it was held that reversal of credit amounts to non-taking ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ound that the appellants were availing simultaneous benefit of two Notifications No.29/2004 and No.30/2004-CE. The Notification No.29/2004 provides for concessional rate of duty subject to availment of MODVAT Credit whereas Notification No.30/2004 provides for Nil rate of duty subject to the condition that no credit has been availed in respect of the inputs. 2. As per facts on record, the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e appellant is not equivalent to the duty involved on the input. 4. Arguing on the Stay Petitions, learned Advocate Shri P.M. Dave has drawn our attention to the various decisions of the Tribunal, wherein it was observed that reversal of credit, before utilization of the same, amounts to as if no credit has been availed. For the above proposition, he relies upon the Tribunals decision in the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taking credit stands fulfilled. Accordingly, he submits that inasmuch as the assessee has reversed the credit after a lapse of 2 to 4 months, the benefit cannot be extended to them. 6. After going through the submissions made by both sides, we find that the benefit of exemption in terms of Notification No.30/2004 has not been extended to the appellant mainly on two grounds. First that the cred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ut. 8. In view of the above, we allow all the stay petitions unconditionally and set aside the impugned orders and remand the matter to Commissioner for fresh decision in the light of the law declared by Hon'ble High Court of Gujarat on the disputed issue. The appellants are at liberty to place before Commissioner their submissions as regards quantum of input credit so reversed by them. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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