2007 (2) TMI 495

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....ddy, JDR, for the Respondent. [Order]. - This appeal arise from the Order-in-Original No. 30/2004 dated 30-9-2004 confirming duty amount of Rs. 2,42,513/- with regard to the credit of AED (GSI) paid prior to 1-4-2000 and demanding interest under Section 11AB of Central Excise Act, 1944. The appellant's contention is that they have reversed the credit to the extent of Rs. 2,24,013/- in terms ....

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....ve received the goods on 1-4-2004 after the amendment. In terms of the amendment, they are eligible to take credit. Therefore confirming the demand of Rs. 2,42,513/- is not as per law and the same is set aside. In so far as the confirmation of the interest is concerned, it is the submission of the learned Counsel that in terms of the Board Circular No. 700/16/2003-CX, dated 6-3-2003 in F. No. 334/....

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....de. 2. The learned DR submits that as they were not eligible for the availment of Cenvat credit prior to 1-4-2000. Therefore they are liable to pay interest. Furthermore there is a gap between availment and reversal of the credit. 3. On a careful consideration of the matter, I find that the Board itself has issued a Circular No. 700/16/2003-CX, dated 6-3-2003 clarifying that the as....