TaxTMI 
TaxTMI 
2007 (9) TMI 38
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....23/-, Rs. 30,914/-, Rs. 47,041/- along with equal amount of interest from the appellants. The appeals involve a common dispute relating to quantification of credit admissible to manufacturers of grey cotton fabrics with reference to the quantum of inputs lying in stock, in process and contained in finished goods as on 1-4-2003, in terms of Rule 9A(1) of Cenvat Credit Rules, 2002, (in short CCR), as they existed during the material period. The said Rule 9A(1) provided for the manufacturers to avail credit equal to the duty paid on inputs lying in stock or in process or contained in finished products (falling in Chapters 52 to 63) lying in stock as on 31-3-2003, on making a written declaration of the description, quantity and value of the sto....
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.... documents on inputs contained in the finished goods on the ground that they had chosen to avail the credit on the basis of formula prescribed in, sub-rule (3) of Rule 9A in respect of stock of inputs and inputs contained in working process. The Commissioner (Appeals) overruled that objection in the impugned order and decided that the manufacturers could avail the methods in Rule 9(A)(1) and (2) simultaneously. However, the Commissioner (Appeals) denied the credit admissible on the basis of duty paying documents for the inputs contained in the finished goods on the ground that the appellants had not declared the description, quantity and value of the inputs contained in such finished products and had instead declared the description, quanti....
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....arious stages in stock as on 31-3-2003 by 15-6-2003, credit could not be denied to them. 4. I have carefully considered the records and submissions made by both sides. As rightly held by the lower authority, the Rule did not prohibit eligible manufacturers from availing input credit on the basis of duty paying documents as provided in Rule 9A(1) and on the basis of formula contained in Rule 9A(3) simultaneously. In cases covered by the three appeals, the appellants had declared the requisite information to avail credit on the basis of formula in respect of inputs lying in stock and inputs contained in work in process. They had claimed credit in respect of inputs contained in finished products lying in stock as on 31-3-2003, on the basis of....