2007 (2) TMI 546

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....pellant. Shri K. Sambi Reddy, JDR, for the Respondent. [Order per : T.K. Jayaraman, Member (T)]. - This appeal has been filed by the appellants against the Order-in-Appeal No. 174/2004-C.E., dated 18-8-2004, passed by the Commissioner of Customs & Central Excise (Appeals), Cochin. 2. The appellants are manufacturers of tread rubber which is an excisable commodity. Till 31-3-2000, ....

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.... Rs. 1,22,070/-. The lower authority confirmed the demand by Order-in-Original No. 13/2001 dated 5-2-2001. The appellants appealed to the Commissioner (Appeals). The Commissioner (Appeals) upheld the Order-in-Original. The appellants are aggrieved over the impugned Order-in-Appeal. 2. Shri S. Vittal Shetty, learned Advocate appeared for the appellants. He urged the following :- (i)&nbsp....

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....er. (iii)   The following case laws were relied on :- (a)      Guardian Rubber Pvt. Ltd. v. CCE, Cochin [2005 (183) E.L.T. 285 (Tri. - Bang.)] (b)      Raghuvar (India) Ltd. v. CCE, Delhi [2002 (140) E.L.T. 280 (Tri. - LB.)] (c)      CCE, Kanpur v. Hi-Tech Polypack [2001 (127) E.L.T. 118 (Tri. - Del.)]....

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....efully. This Bench in the case of Guardian Rubber Pvt. Ltd. v. Commissioner of C.Ex., Cochin [2005 (183) E.L.T. 285 (Tri.-Bang.)] has held that while opting out of Modvat Scheme, the appellants are required only to reverse the credit on the inputs lying in stock and also on the inputs contained in the finished goods. Since waste product is not considered as finished goods, it has been held that cr....