2011 (2) TMI 537

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....dent. [Order per : P.G. Chacko, Member (J)]. - In this appeal filed by the Revenue, the short question to be considered is whether the respondent should pay the duty forgone under Notification No. 203/92-Cus., dated 19-5-1992 in respect of the raw material imported by them under the DEEC scheme during the material period. The respondent had obtained the benefit of the said Notification in respe....

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.... proposals, after noting that the respondent had already reversed the MODVAT credit and paid interest thereon as certified by the jurisdictional Central Excise authorities. The present appeal of the Revenue says that the entire amount of MODVAT credit, which was required to be reversed, was actually not reversed and, therefore, the respondent is not entitled to the benefit of the "amnesty scheme" ....

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....ts contained in the exported final product. It is submitted that such reversal of credit was done in terms of a clarificatory circular issued by the Board, viz. Circular No. 318/34/97-CX. dated 26-6-1997. In this connection, the learned counsel has usefully referred to a judgment of this Bench, viz. CEAT Ltd. v. CCE, Nashik, 2009 (246) E.L.T. 436 (Tri.-Mumbai), wherein the relevant features of the....