TMI Blog2002 (1) TMI 161X X X X Extracts X X X X X X X X Extracts X X X X ..... 04,711.00 and penalty amount of Rs. 2,000/-. 2. As per facts on record, the appellants availed the Modvat credit of countervailing duty based upon the invoices issued by a 100% EOU. The said 100% EOU, in the four invoices, separately quantified the amount of Customs Duty, Special Excise Duty and Additional Excise Duty (C.V.D.). As per such invoices, the quantum of CVD paid by them was to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal against the above order, the Commissioner (Appeals) observed that the provisions of the various Notifications provide for availing the credit of duty actually paid by 100% EOU and there is nothing in the rules to suggest that wherever 100% EOU has paid 50% of duty leviable, the credit can be taken on 100% of duty leviable. Accordingly, she upheld the impugned order of the lower authorities. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the question which arises is how to determine the quantum of Modvat credit available to the manufacturer in respect of the goods procured from a 100% EOU. The Larger Bench have also accepted the formula suggested by the ld. Advocate that first additional duty of Customs leviable on like goods, if imported into India from outside has to be calculated and then the actual amount of duty paid b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ire facts and circumstances of the case, I direct the appellants/applicants to deposit an amount of Rs. 50,000/- within a period of four weeks from the date of receipt of the said order and report compliance to the Tribunal on 11th March, 2002. Subject to deposit of the above amount, the condition of pre-deposit of balance amount of duty and penalty is waived and its recovery stayed during the pen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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