2017 (8) TMI 1040

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....t. ORDER [Order per : Ramesh Nair, Member (J)]. - The fact of the case is that respondent has availed exemption Notification No. 5/98-C.E., dated 21-6-1998 in respect of plastic packaging goods falling under Chapter 3923.90 of the Schedule to the Central Excise Tariff Act, 1985. According to notification the goods are exempted upto the aggregate value of clearances of Rs. 85 lakhs and thereafter....

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....venue reiterates the grounds of appeal. He further submits that Commissioner (Appeals) has wrongly dropped the demand for the reason that exemption notification is based on financial year and for the entire period i.e. in a particular financial year the respondent is not required to claim the Modvat. Since the respondent has availed Modvat credit they have violated the condition 10 of Notification....

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....sional rate of 5%. As per Notification No. 5/98 they are very much entitled for the Modvat credit. In the notification there is no condition that for availing exemption notification the assessee cannot opt out in the middle of the financial year. As per condition of the notification for availing exemption Modvat credit should not be availed. In the present case since respondent has availed Modvat ....