1998 (7) TMI 335

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....valorem, of their products upto 30-7-1996 and they filed declaration under Rule 173B for claiming the SSI Exemption under the Notification No. 1/93-C.E., dated 28-2-1993 and started paying duty at the concessional rate of 10% ad valorem, with effect from 31-7-1996. By the said impugned order the lower authority denied the exemption under Notification No. 1/93-C.E. and demanded the differential duty of Rs. 1,37,436/- on the ground that at the beginning of the Financial Year the appellants adopted to pay the duty at the normal rate and they did not opt for SSI benefit under the Notification with effect from 1-4-1996. 2. In the grounds of appeal the appellants submitted that they came to know about their eligibility for SSI exemption i....

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....said para and to pay duty of excise at the rate applicable to the specified goods but for the exemption contained in the said para 1, subject to the condition such manufacturer pay duty at the rate applicable but for the aforesaid exemption on all subsequent clearances of the specified goods made after availing such option in any Financial Year in which such date of option falls. From the above provisions, it is clear that para 4 is not applicable to the appellants as they did not exercise the option to pay duty at the normal rate in the middle of the financial year but they opted for the benefit of exemption under para 1 of the said Notification. This para grants exemption to the specified goods cleared for home consumption on or after fir....