2001 (3) TMI 375

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....t. Shri R.C. Shukla, JDR, for the Respondent. [Order per : Jyoti Balasundaram, Member (J)]. -  In this case, Modvat credit of Rs. 2,41,527/- has been disallowed and its recovery ordered under Rule 57-I of the Central Excise Rules, to the appellants who are manufacturers of 100% cotton yarn, on cotton waste received from 100% EOU, on the ground that the cotton waste was chargeable to ....

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....ditional duty leviable has not been paid. Hence no Modvat credit is admissible. This view is supported by the recent decision of the Apex Court in the case of Collector of Customs v. Presto Industries reported in 2001 (128) E.L.T. 321 wherein the Supreme Court has held that the additional duty is in addition to customs duty leviable under the Customs Act, and not a countervailing duty and since th....