TaxTMI 
TaxTMI 
1998 (2) TMI 324
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....e, for the Respondent. [Order]. - The Revenue filed this appeal against the order-in-appeal dated 14-1-1997 passed by the Commissioner (Appeals), Central Excise Ghaziabad. The brief facts of the case are that respondents are engaged in the manufacture of corrugated rolls, sheets, boards, printed and unprinted cartons. The appellants were availing the benefit of Modvat credit in respect....
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....ssioner ordered that the balance of credit on inputs lying in RG 23A Part II as on 4-5-1994 be expunched and stand lapsed. The Assistant Commissioner confirmed the demand of Rs. 24,776.77. The appellants filed appeal against this order and the Commissioner of Central Excise (Appeals) vide impugned order upheld the order of adjudicating authority in respect of balance of credit on inputs lying in R....
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....mitted that if Revenue wanted from them to reverse the credit, the same should have been asked on equity basis. If the department wants from them to reverse Modvat credit as on 4-5-1994, the assessee has certain stock involving duty of Rs. 65,351.40 whereas they are having Rs. 7,225.55 in their credit balance in RG 23A Part II and remaining amount will automatically lapse as there is no duty levie....