2001 (2) TMI 150

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....earing for the revenue is unable to place before us any provision to show that the petitioner is not entitled to utilise the CENVAT credit for payment of Central Excise duty on the clearance of final product. 4. Our attention has been drawn to the notification dated 31st March, 2000, particularly to Rule 49(e)(i) and (ii), which read as under : "(e) If the manufacturer defaults on account of....

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....nt of duty and the consequences and penalties as provided in these rules shall follow." 5. It is not in disputed that the petitioner who is manufacturer has defaulted on account of the facility extended to him to discharge his duty liability by debiting the account current or utilising Cenvat credit. Under the said provisions where facility of payment of duty on fortnightly basis on removal of ....