when the assessee had not furnished the details relating to working of MODVAT which resulted in failure on the part of the assessee ... return of income filed, the assessee had arrived the MODVAT Credit utilization during the current year. According to the Assessing Officer, as per memo
2017/09 is July 1995. The appellant, during this period were availing Modvat Credit of Central Excise duty paid on inputs and capital goods ... machinery. Nickel Screen is used in centrifugal machine as its parts. While Modvat credit in respect of nickel screen was disallowed on the ground that
Rule 57-G of the Central Excise Rules, 1944, for adoption of
MODVAT Credit in respect of certain inputs used by them. The
authorities, contending ... case which was governed by the relevant provision of the MODVAT
Scheme which was a special provision with a self contained
machinery even for enforcement
duty of excise but at the same time availed
the benefit of MODVAT/CENVAT credit as well. Thus, to put it succinctly,
the real issue ... whether availing the benefit of MODVAT/CENVAT
credit in respect of branded goods of third parties manufactured by the
assessees on job work basis, disentitles
Escortss case, the Appellant manufactured tractors and availed of Modvat credit in respect of duties paid on inputs which were used in the manufacture ... were used in the manufacture of tractors on which duty was paid. Modvat credit was denied on the ground that the parts constituted final goods
decided by a common order dated 14th October, 2004. CESTAT has disallowed MODVAT/CENVAT Credit as 'capital goods' on "welding electrodes ... capital goods' under Rule 57Q for the purpose of allowing MODVAT/CENVAT Credit thereon to the appellant assessee during the period of August
manufacture nor even unpacking or unwrapping the said goods. The appellant availed MODVAT credit on those bought out items exported under Rule 57Q of Central ... goods (para 4 of the judgment). On such fact, Revenue denied that MODVAT credit on such goods to the appellant on the ground that those
Order
No.1945/1996 dated 18.10.96 of the Appellate Tribunal
which allowed MODVAT credit on felts, wires and dandy
cloth used in the manufacture ... Tribunal and therefore the
appellate would be entitled for the benefit of MODVAT
credit from 1987 onwards?
iv. Whether the first respondent is correct
said case,
this Court held as under: -
“In so far as the MODVAT/CENVAT credit on inputs
(explosives, lubricating oils etc.) is concenred, the
issue ... appeals, where
credit on inputs is concerned, are allowed.
As regards the MODVAT/CENVAT credit on capital
goods if the mines are captive mines
made to the value of closing stock on account of unutilised MODVAT
credit.
It is prayed that the learned AO be directed to delete ... confirming the addition of
RS.6,06,70,534, being unutilised MODVAT credit as on March 31,2002, to the value of closing
stock
