1997 (5) TMI 113

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.... per : G.R. Sharma, Member (T)]. - The facts leading to this Appeal are that the appellants are engaged in the manufacture of goods falling under Chapter 72 & 73 of the Central Excise Tariff Act, 1985. They were availing deemed credit of duty allowed on inputs under the Modvat Credit scheme in terms of Govt. of India Order No. 342/1/88-TRU, dated 1-3-1989 and took deemed credit at a rate of Rs.....

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....he present case is concerned. Assessee wants to clear inputs for home consumption. These inputs were brought under the provisions of Modvat scheme. He is required to pay duty as if the goods were manufactured in his factory. He submits that once a request is made for removal of the inputs from the factory for home consumption the normal rate of duty shall be chargeable on such goods. He reiterated....

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....ays down that inputs may be removed from the factory on payment of appropriate duty of excise, as if such inputs have been manufactured in the said factory. Considering the issue in the light of this specific requirement of the law, we find that the normal rate applicable to the inputs will Rs. 700/MT. on the date of removal and therefore the duty payable on the inputs will be Rs. 700/MT. However,....