1995 (6) TMI 130

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....espondent. [Order]. - This appeal has been filed by revenue against the order of the Collector of Central Excise (Appeals), Bangalore. The short point that falls for consideration is whether the respondents should be called upon to reverse the MODVAT credit taken in respect of the inputs lying unutilised and also those contained in the finished goods and the scrap generated at the end of the....

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....ned above on payment of duty. Since they availed of the exemption Notification 1/93 for the year 1993-94, they should be taken to have been covered by the parameters of notification from 1-4-1993. He pleaded that the exemption benefit under Notification 1/93 is available based on the clearances in a financial year and therefore the respondents notwithstanding their claiming the benefit of exemptio....

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....is paid back as such credit has been wrongly availed of. I find that in this case, the appellants had discharged their duty liability on the finished products by paying duty at the appropriate rate and in respect of inputs which was still availale, the entire amount taken as credit was reversed. In this case, the appellants have discharged their duty liability on the finished goods by paying the d....

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....cation and the inputs are lying as such or are contained in some finished goods or in the scrap lying in the factory at that time. In the present case, before they availed of the benefit of Notification 1/93, as held by the learned lower authority, they had cleared all these goods from their factory on payment of the duty as applicable under the central excise law. He pleaded therefore none of the....