2007 (9) TMI 73

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....al product. However, with effect from 1-4-2004, they opted to be out of Modvat scheme and started availing the benefit of small scale exemption Notification No. 8/03, dated 1-3-2003. 2. The dispute in the present appeal relates to the Modvat credit of CVD paid by the appellant at the time of re-import of earlier exported goods. The same were received back by the appellant on 14-3-2004, involving ....

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....on No. 8/03, dated 1-3-2003 specifies that for 'First Clearance of Rs. 100 lakhs' for 'home consumption' no Cenvat credit can be availed. The opening clause of the Notification No. 8/2003 gives exemption to clearances for 'home consumption' under this notification subject to certain condition. From above, it can be seen that the goods referred to in the Notification No. 8/03 are goods cleared for ....

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....rt of the credit on returned goods against clearance of goods for home consumption, they brought these goods under ambit of Notification No. 8/03, and also converted their claim of maintaining separate accounts." 4. The reading of the above paragraph shows that the appellate authority  is not otherwise disputing the appellant's entitlement to Modvat credit, but the same is being rejected on ....

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....o. 8/2003 and declaration to keep separate stock record for exported goods received back sent for export with the deptt. (v)  We have shown separate stock in RG-23 A Part I Register. (vi)   As on 4-10-04, we are in receipt of another good back exported earlier intimated in Annexure 57 to deptt. (vii)  Above goods of date 4-10-04 separately mention in RG-23A Part I. (viii) ....