1996 (1) TMI 198

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....ppellants. Shri R.A. Sheikh, JDR, for the Respondent. [Order per : G.R. Sharma, Member (T)]. -  The present appeals have been filed against the order of Collector (Appeals) denying them the modvat credit on bars, rods and squares. Shri G.S. Bhangoo, the learned Counsel for the appellants submitted that the appellants herein had filed a declaration on 15-7-1987 describing the inputs a....

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....o round and therefore, round should cover bars and rods. On the question of square, the learned Counsel submitted that the squares are nothing but billets. He referred to Glossary of Terms in IS : 1956 (Part III) - 1975 wherein Item 2.2 reads : "2.2 Billet - A semi-finished product obtained by forging, rolling or continuous casting, usually square and not exceeding 125 x 125 mm in cross-section....

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....he period is limited to six months from the date of taking the credit. In terms of this Rule, the demand for the period prior to 28th June, 1989 will not be covered and will be hit by limitation. Similarly, for the demand for the period from Oct., 1989 to March, 1990, the show cause notice was issued on 26-4-1990 and therefore, the credit taken before 26th Oct., 1989 shall be hit by limitation. Th....

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....billet includes all semi-finished products obtained by forging, rolling or continuous casting. 4. Heard the submissions of both sides. On careful consideration of the submissions, we find that rounds have been described according to the contention of the appellants, as bars and rods because, the cross-section of the bars and rods is round. We also find that in the challan, the goods have b....