1999 (6) TMI 337

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....tral Excise Rules. They had exported their goods under the VABL scheme. They had availed of Modvat credit in respect of imported inputs totally amounting to Rs. 4,08,022/-. As per the direction of the Range Superintendent as contained in the letter dt. 30-3-1995, they reversed the total amount of Modvat credit. Subsequently they filed a claim for refund of Rs. 4,08,022/- under Rule 57F(4) of the Central Excise Rules. The Assistant Collector, Saharanpur, rejected the claim for refund of duty, holding that the claim had not' been prepared according to the provisions of Notification No. 85/87, dt. 1-3-1987 issued under Rule 57F(4); that refund of Modvat credit is only admissible when credit could not be utilised towards payment of duty on fina....

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....efit of Modvat credit; that had any countervailing duty (CVD) been charged, then there could be any logic of denial of Modvat credit; that customs authorities had declined to allow import of 52.600 M.T. duty free import entitlement under VABL scheme. He contended that on the one hand the Appellants were forced to reverse the credit and on the other hand the refund duty free import entitlement had also been denied which is against the spirit of Modvat scheme the ld. Chartered Accountant also mentioned that remaining import of H.R. Coils under duty free import entitlement under VABL scheme had not been imported as DEEC Book was cancelled supposedly on the ground that Modvat credit was availed of by the Appellants; that the advance licence had....