1997 (5) TMI 237

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....for the Respondent. [Order]. - The short point that falls for consideration in the appeal is whether the appellants were required to reverse the Modvat credit in respect of inputs which were contained in the finished goods which were lying in stock on the day the appellant opted for the benefit of Notification 1/93 and in respect of which the assessee has paid duty. The authorities below hav....

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.... for home consumption under Rule 57A of the Central Excise Rules, 1944 (hereinafter referred to as the said Rules), from so much of the duty of excise leviable thereon which is specified in the said Schedule (read with any relevant notification issued under sub-rule (1) of the Rule 8 of the said Rules or sub-section (1) of Section 5A of the said Act, and in force for the time being as is equivalen....