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2017 (2) TMI 712 - CESTAT HYDERABADCENVAT credit - common inputs used in the manufacture of excisable and exempted final products - delay in filing application - Held that: - when the quantum of inadmissible credits for the period of dispute has been reversed within 6 months from the date on which the Finance Bill, 2010 received the assent of the Hon’ble President of India and also has satisfied the terms of the Trade Notice No.25/2010 dt. 16-09-2010, substantive benefit of the beneficial provisions of Section 69 and 73 of the Finance Act,2010 cannot be denied to the appellant only on the grounds that there was delay in filing the application and also that interest payable on the amounts reversed was paid only on 23-2-2010. Interest on the said amount of will definitely also be payable under Rule 14 of the Cenvat Credit Rules, 2004 read with Section 11AB of the Central Excise Act, 1944. No penalty can be imposed on the appellants especially considering that the amount of ₹ 23,06,207/- was paid by the appellants for resolution of the dispute as per the trade notice along with interest liability of ₹ 18,69,311/- also paid, albeit belatedly on 23.12.2010. Matter remanded for verifying calculation of credits reversed - appeal allowed by way of remand.
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