2015 (10) TMI 1919

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....For the Respondent : Shri N.N. Prabhudesai, Superintendent (AR) ORDER Brief facts of the case are that the appellant purchased certain inputs from 100% EOU.  After receiving the goods they have availed credit of CV duty paid by the 100% EOU. The issue is relating to the method of quantification/computation of the credit so availed. 2. None has appeared on behalf of the appellant, but....

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....it availed by a unit. Learned AR took me through order of the Commissioner (Appeals) to bring forth the point. 5. I have gone through the appeal memorandum as also the order of the Commissioner (Appeals) and the submissions made by the learned AR. In order to understand the issue, the extract from the relevant Notification pertaining to 100% EOU at the relevant time (27/03/2006 to 14/06/2006) i....

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.... payment of sales tax or value added tax. Illustration: - Assuming product X has the value Rs. 100/- under section 14 of the Customs Act, 1962, and for the purposes of this illustration, is chargeable to basic customs duty of 10% ad valorem, additional duty of 20% ad valorem only, then the computation of duty required to be paid would be as follows: Basic Customs duty but for this exemption=....

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....G.S.R. 266(E), dated the 31st March, 2003] shall be equal to X multiplied by {(1+BCD/400) multiplied by (CVD/100)}. 7. A combined reading of the Notification as also the proviso, it will be seen that there is no intention to restrict the CENVAT credit under the CENVAT Credit Rules but the intention is to permit the CENVAT only on the countervailing duty portion. Notification 23/2006 does not re....