2017 (5) TMI 749

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....rni, Advocate (AR) for the respondent ORDER The fact of the case is that the respondent during the years 2000-01 to 2004-05 availing SSI exemption under notification 8/2000-CE dated 01.03.2000 and notification 8/2003-CE dated 01.03.2003 and were not paying the excise duty upto the first clearances of the aggregate value of Rs. 50 lakhs in the year 2000-01 and up to Rs. 1 crore in the year 20....

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....lowed to him in respect of inputs lying in stock or used in any final products lying in stock on the date such option is exercised and after deducting the said amount from the balance, if any, lying in credit, the balance if any, shall be lapsed and shall not be allowed to be utilised for payment of duty on any excisable goods whether cleared for home consumption or for export. Similar provision w....

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....ntained in the finished goods lying in stock as on date of exercising the option of exemption. Therefore, it is mandatory requirement for reversal of the credit. He places reliance on the following decisions:- • CCE vs. National Tobacco Co. of India Ltd. 1978 (2) ELT (J416) (SC) • Ranbaxy Laboratories Ltd. vs. CCE 2010 (253) ELT 578 (Tri-Del) • Jyoti Cement S....

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.... confirmed. This issue has been considered by the Tribunal in the case of Pushpaman Forgings 2002 (149) ELT 490 which was upheld by the Hon'ble Supreme Court 2003 (153) ELT A89 (SC). 4. I have carefully considered the submission made by both sides. I find that in the case of Pushpaman Forgings (supra), the Tribunal held that in absence of any machinery provision the amount cannot be recover....