2007 (10) TMI 21

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....are against the order of the Commissioner No. 8/BRC-I/MP/03 dt. 3-7-2003. 2. Heard both sides. 3. The relevant facts, in brief, are as follows :- (a) The appellant company is engaged in the manufacture of medicaments which are generic in nature falling under chapter 3003.20 and partly exporting the same. (b) In respect of certain export orders, the foreign buyers required the appellant....

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....o pay duty at the time of clearance for and consequently not eligible for modvat credit on inputs which has gone into their manufacture and accordingly disallowed modvat credit of Rs. 44,33,124/-; he also imposed penalty of equal amount. He ordered recovery of interest; he also imposed a penalty of Rs. 1 lakh on Shri D.S. Darji, Manager (Excise). 4. Ld. Advocate for the appellants submits that ....

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....e generic medicine, they were not required to pay any duty on their final product, in as much the same are exempted. Accordingly, after due procedures, an amount @ 8% was confirmed against them in terms of provisions of Rule 57CC. Arguing on the point, learned advocate submits that apart from the fact that the entire situation is Revenue neutral, the provisions of Rule 57CC are not applicable in r....