1996 (7) TMI 218

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....e Respondents. [Order]. - This appeal is directed against the order of the Collector (Appeals). The Collector (Appeals) in his order had held that in the facts and circumstances, the original authority has rightly modified the classification lists; disallowed the arbitrary Modvat credits and rejected the appeals. 2. The facts of the case in brief are that the appellants are engaged i....

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.... therefore disallowed Modvat credit amounting to Rs. 51,308.14 was lying in balance as on 1-4-1993 ordering the same to be treated as lapsed. The Asstt. Collector also disallowed Modvat credit amounting to Rs. 22,187/- as wrongly availed during the period 1-4-1993 to 31-8-1993. The Assistant Collector therefore confirmed the demand of Rs. 51,308.14 and Rs. 22,187/- in respect of Modvat credit wron....

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....d goods under Rule 57A and therefore they were entitled to avail utilisation of Modvat credit of duty paid on inputs used in the manufacture of final products that there was no provision in Modvat scheme which authorises the balance lying in RG 23A Part II to lapse; that in case it is held that no duty was liable to be paid on the final product the appellant become automatically entitled to refund....

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....ase the assessee opted to clear the goods on payment of duty on the normal rates and therefore there was nothing wrong in his opting for payment of duty on the final product and taking Modvat credit as it was admissible to him. 6. I also observe that both inputs as well as final product are specified goods under Rule 57A. Since both inputs and final product were specified goods therefore a....