2013 (1) TMI 2

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....oth sides. 2. Applicant filed this application for waiver of pre-deposit of duty of Rs.8,25,84,371/-, interest and penalty. The demand is confirmed after denying the credit in respect of the capital goods i.e. Bushings. 3. The applicants are engaged in the manufacture of 'Glass Fibre' by drawing the molten glass through the bushings. The applicant availed the credit of 50% of the duty paid in re....

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.... of CENVAT Credit may be taken in any financial year subsequent to the financial year in which the capital goods were received in the factory of the manufacturer, or in the premises of the provider of output service, if the capital goods, other than components, spares and accessories, refractories and refractory materials, moulds and dies and goods falling under heading 6805, grinding, wheels and ....