RASOI LTD. Vs. UNION OF INDIA

JUDGEMENT

(1.) On 18th October, 2016 the appellant company ("the appellants") wrote the following letter to the Assistant Commissioner, Central Excise, Kolkata-V, Commissionerate.

(2.) In order to discharge excise duty on the said excisable goods, we intend to utilise the credit accumulated under the Money credit Scheme (captured in RG 23B Part II register, duly reflected in the monthly Excise returns under the remarks column). The said money credit was accumulated by us in terms of Notification No. 45/89-CE dated 11.10.1989. The Notification is not existence and therefore, the said money credit balance being vested right, is now sought to be utilised by us against discharge of duty on the said excisable goods.

(3.) On 11th November, 2016 the Assistant Commissioner, Central Excise, Kolkata-V made the following reply: -