2016 (2) TMI 202

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....IAL MEMBER For the Petitioner : Shri C. Ramkumar, Advocate For the Respondent : Shri K.P. Muralidharan, AC (AR) ORDER PER R. PERIASAMI The present appeal is filed against the Commissioner (Appeals) order dt. 11.12.2003. This is a case where the appellant-assessee opted for compound levy scheme under Section 3A w.e.f. 1.8.1999. At the time of opting, appellants have declared the stoc....

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....t standard rate of duty of 16% advalorem. He submits that notification applies for the entire stock as once they have opted for compound levy scheme from 1.8.99. He submits that the Asst. Commissioner has correctly dropped the demand in respect of stocks of bars and rods and ingots and billets. He relied on the judgement of Hon'ble Supreme Court in the case of CCE Chandigarh Vs Asian Alloys Lt....

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....ion is applicable only for the stock which were produced prior to 1.9.97. He relied the Hon'ble Supreme Court decision in UOI Vs H.M.M. Ltd. - 2011 (272) ELT 338 (SC). 4. After hearing both sides, we find that the short issue in this case is whether the finished goods i.e. bars and rods and ingots and billets lying in stock as on 1.8.99 is chargeable to duty at specific rate of duty as per ....