2000 (11) TMI 254

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....: J.H. Joglekar, Member (T)]. - On hearing both sides it appeared that at this stage itself the appeal could be taken up for disposal. This was done by granting waiver ofpre-deposit of Rs. 5,77,683/-. 2.  The appellants manufactured fertilizers which were exempted from payment of duty. Sulphuric acid was the main raw material which was manufactured and captively consumed by the applicants ....

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....ther dutiable goods. This situation continued up to March, 1998. Show cause notice was issued on 11-8-1998 demanding duty @ 8% on the value of sulphuric acid captively consumed without payment of duty citing the provisions of rule 57CC which was introduced on 1-9-1996. The period covered was February - March, 1998. The Assistant Commissioner in his order held that unless the provisions of sub-rule....

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....ounts for claiming the right quantum of Modvat credit. Rule 57CC provides an easier way by permitting retention of the credit taken provided duty 8% is paid on the final products which are admittedly capable of being cleared without payment of duty. 4.  Either of the rules could come into operation where the credit taken on the inputs continues to exist in the hands of the assessee at the ....