proceedings under Section 148 of the Act on the
ground that the MODVAT amount which remained unutilized was
debited to the Profit & Loss account ... lacs (approx.) which was shown as a balance in the
MODVAT account of the assessee and had been debited to the Profit
& Loss account
submitted that it was not disputed that
the appellant had availed of MODVAT credit on glass bottles which were
used by it to fill ... waste which arose on processing of inputs in respect of
which MODVAT credit had been availed of and therefore, could be
removed only on payment
Commissioner (Appeals) vide order dated 18.06.2007, allowed the Appellant/Assessee to avail MODVAT Credit for the period spanning between 01.03.1997 and 03.05.1997 and upheld ... preferred an appeal in respect of the period, for which, MODVAT credit has been allowed, i.e., the period spanning between
hereinafter referred to as, 'Rules'), there was a scheme called MODVAT scheme. According to the scheme, a manufacturer of excisable goods is permitted ... amount of the additional duty i.e., 1,75,928.17 in the MODVAT register, namely, RG23A Part I and Part II.
(v) Like that
determination:-
"Whether the Tribunal was correct in law in holding that
MODVAT credit has not to be included in the total
turnover ... computation of total turnover
which did not include the amount of modvat credit which was availed
by the assessee in respect of excise duty paid
packing
material, etc. used in manufacture of its finished products,
availed of Modvat Credit under Rule 57 A of the Central Excise
Rules, 1944 (hereinafter ... paid on inputs (i.e., raw
material) by seeking recourse to the Modvat route. There was
another batch of finished goods in respect of which
before the Tribunal was, as to whether, the appellant was entitled to Modvat credit on spares, components and accessories of machines, i.e., capital goods ... dated 02.12.1996 took a decision that, for the aforementioned period, Modvat credit would be available to it on components, spares and accessories, whether
16th day of March, 1995."
1996 Circular:
"Subject:Availment of Modvat credit on components, spares and accessories under Rule 57Q of the Central ... classifiable under any Chapter heading are eligible for availment of Modvat credit."
(Emphasis is ours)
21. A perusal of the aforesaid extracts would show
record shows that the Assessee had claimed MODVAT credit in respect of the goods noted hereunder qua, the period in issue, to the extent ... judgement dated 10.09.2015, accepted the Assessee's claim for MODVAT credit in respect of the first six (6) items referred to hereinabove, while denying
first two i.e. 08th July, 1999 was issued to
amend the modvat rules. The upshot of the said notification was that if the
goods ... would use such goods would be entitled to the
entire amount as modvat credit. This is quite evident upon a plain reading of
Notification
