2000 (2) TMI 434

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....dvat Credit on the inputs used in such manufacture under Rule 57A of the Central Excise Rules during the said period. In 1993, they opted to operate under a quantity-based duty exemption entitlement certificate (DEEC) scheme by applying for licence under the said scheme and obtained such licence on 31-12-1993 covering 4 inputs namely Timber, Veneers, Phenol-Formaldehyde and Phenol. By the time they obtained the licence, they had already exported their final products in three consignments on 10-4-1993, 24-6-1993 and 8-8-1993 under the D.E.E.C. Scheme. At the time of export as above they had taken Modvat credit on Veneers as inputs used in the manufacture of the exported product, which amounted to Rs. 1,18,972/-. In February, 1994, the Appell....

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....d 19-5-1992 that the Modvat Credit taken on inputs used for the manufacture of the exported products should be reversed at a later stage after the transfer of the DEEC licence to a third party. In the absence of such condition, ld. Consultant has submitted, the amount of Modvat credit reversed at the instance of the department in October, 1994 ought to have been refunded to the appellants by the Assistant Commissioner by allowing the refund claim which was filed in time by them. He has, in this connection, drawn my attention to the condition No. vi laid down in the above Notification which reads thus: "that where export goods are manufactured availing credit of central excise duty or additional customs duty, in respect of any of the mate....