2012 (6) TMI 670

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....d both sides. 2. Applicant filed these applications for total waiver of pre-deposit of duty of Rs.20,22,294/-. Applicant availed credit on the duty paid on capital goods were put to use in the factory of production and thereafter the capital goods were exported under bond. 3. The case of the Revenue is that as the applicants cleared the capital goods. As such, therefore, the applicants are liabl....

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....evenue relied upon the provisions of Rule 3(5) of the CENVAT Credit Rules to submit that as the credit has been availed on the capital goods and the same are removed from the factory of production. Therefore, the demand is rightly made. 4. We find that there is no dispute that capital goods are exported under bond and the Board vide Circular No. 345/2/2000-TRU dt. 28.9.2000 clarified that inputs ....