Circular No. 784/17/2004-CX
30th April, 2004
F.No. 336/1/2004-TRU
Government of India
Ministry of Finance
(Department of Revenue)
Tax Research Unit
Subject: CENVAT Credit involved on stock of Light diesel oil as on 28.3.2003 – regarding
I am directed to refer to Circular No. 704/20/2003-CX dated 31.3.2003 on the subject mentioned above. The circular has been set aside by the Hon’ble High Court of Karnataka in the case of M/s Grasim Industries Ltd. [2004 (163) ELT 10 (Kar.)].
2. The Department has decided to file a SLP against the above order in the Supreme Court. In view of the above, show cause notices which are yet to be adjudicated, may be kept pending till the department’s SLP is finally decided by the Supreme Court. In other cases, show cause notices may be issued to safeguard revenue but should be kept pending.
3. Receipt of the circular may be acknowledged.
4. Hindi version will follow.
G. S. Karki
Under Secretary to the Government of India
