2002 (1) TMI 161

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....the condition of pre-deposit of duty amount of Rs. 1,04,711.00 and penalty amount of Rs. 2,000/-. 2. As per facts on record, the appellants availed the Modvat credit of countervailing duty based upon the invoices issued by a 100% EOU. The said 100% EOU, in the four invoices, separately quantified the amount of Customs Duty, Special Excise Duty and Additional Excise Duty (C.V.D.). As per s....

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....confirmed the amount of duty and penalty. 5. On appeal against the above order, the Commissioner (Appeals) observed that the provisions of the various Notifications provide for availing the credit of duty actually paid by 100% EOU and there is nothing in the rules to suggest that wherever 100% EOU has paid 50% of duty leviable, the credit can be taken on 100% of duty leviable. Accordingly....

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....es that the Tribunal in Para 17 of the said judgment observed that the question which arises is how to determine the quantum of Modvat credit available to the manufacturer in respect of the goods procured from a 100% EOU. The Larger Bench have also accepted the formula suggested by the ld. Advocate that first additional duty of Customs leviable on like goods, if imported into India from outside ha....