2003 (6) TMI 67

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....ber (T)]. - Heard both sides. The issue in this appeal relates to interpretation of Para 2(i) appearing in the small scale exemption Notification No. 9/99-C.E., dated 28-2-1999. The appellants admittedly availed of the benefit of the said Notification up to 17-8-1999 during the financial year 1999-2000 and thereafter, opted out of the said notification. They claim that after opting out of the exem....

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....this notification shall exercise his option in writing for availing the exemption under this notification before effecting the first clearances of specified goods and such option shall be effective from the date of exercise of the option which shall not be withdrawn during the remaining part of the financial year." 3. It is clear from the wording of the aforesaid condition that once having opte....

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.....D.R. also points out that the financial year based small scale exemption like Notification No. 9/99 required a manufacturer to either avail of such exemption for the entire year or to pay the normal duty and avail Modvat credit on the input duty. He points out that if a manufacturer is allowed to avail of clearance based exemption notification for some period of a financial year and then opt out ....