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of <h1>Appeal Allowed, Order Set Aside: Key Rules on Duty Clearance & Credit Utilization Upheld</h1> <h3>POLYSET PLASTICS LTD. Versus COMMISSIONER OF CENTRAL EXCISE, GOA</h3> The appeal was allowed, and the order was set aside. The interpretation of Rule 57S(1) allowed for the clearance of capital goods for home consumption by ... Demand - Cenvat/Modvat - Limitation Issues involved: Interpretation of Rule 57S(1) and Rule 57F(12), utilization of credit of duty paid on inputs for payment of duty on capital goods, time-barred demand, validity of proceedings under Rule 57U.Interpretation of Rule 57S(1): The appellants cleared capital goods in accordance with Rule 57S(1) by debiting duty in RG 23A Part II Account. Rule 57S(1) allows removal of capital goods for home consumption on payment of appropriate duty as if they were manufactured in the factory.Utilization of credit of duty on inputs: The Commissioner held that credit of duty on inputs could be used for payment of duty on final products, waste arising during manufacture, or on inputs themselves. The credit used for duty on capital goods was deemed valid under the proviso to Rule 57F(12).Time-barred demand: The demand was considered time-barred as there was no willful misstatement or suppression of facts, thus penalty was not warranted.Validity of proceedings under Rule 57U: The submission that proceedings under Rule 57U were not valid due to substitution without a saving clause was supported by precedents, leading to the appeal being allowed and the order set aside.
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