2009 (3) TMI 393

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....r]. - The appellant is engaged in manufacture of PP Fabrics and woven sacks falling under Chapter 39 of the Central Excise Tariff Act. During the period from May 2007 to June 2008, they procured PP granules, as one of their inputs, from M/s. Reliance Industries Ltd., a 100% EOU. The said granules were cleared by M/s. Reliance Industries Ltd. on payment of countervailing duty, Education Cess on cou....

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....d that the appellant is entitled to avail the credit in terms of the above formula. However, the dispute concerns about factor 'X' i.e. the assessable value of the goods. Whereas the lower authorities have adopted the value of 'X' as the assessable value shown in the invoices, learned advocate's contention is that the said factor 'X' would include value plus basic customs duty. As such they would ....

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....internal two brackets have to be opened. As such 'X' cannot be held to be inclusive of BCD as contended by the appellant. As such I find no justification in their plea. The excess credit so availed by the appellant to the extent of Rs. 1,76,627/- is upheld. 6. At this stage learned advocate submits that the entire credit was taken on records on the basis of the invoices issued by M/s. Reliance In....