1992 (10) TMI 167

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....n Tandon, SDR, for the Respondents. [Order per : R. Jayaraman, Member (T)]. - This is an appeal directed against the Order-in-Appeal No. P-34/92, dated 20-2-1992 passed by the Collector of Central Excise (Appeals), Pune, rejecting the appellant's appeal. 2. The facts of the case involved in this appeal are that the appellants are manufacturing cast alloy permanent magnets and they importe....

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....Credit on the CVD on the basis of duty payment made on challan and also on the basis of the certificate issued by the Customs House on 17-1-1990. Thereafter, they took the Modvat credit, which was objected to by the Assistant Collector on the ground that since the inputs have been received without payment of CVD at the initial stage, MODVAT Credit on the basis of subsequent payment of CVD cannot b....

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.... no CVD was paid. The appellant honoured the demand subsequently notwithstanding the fact that it was time-barred, only because of the fact that MODVAT credit of the CVD subsequently paid is admissible to them under Rule 57E of the Central Excise Rules. I am not able to agree with the view of the Assistant Collector that if the inputs have been received initially without payment of duty and subseq....