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2014 (4) TMI 501 - AT - Central ExciseAvailment of CENVAT Credit - Credit taken in respect of the goods received from a 100% EOU - Held that:- appellant had been doing the calculation based upon the formula which has been mentioned in sub-rule (7) of Rule 3 of CENVAT Credit Rules, 2004 for the period June 2007 to February 2010. Revenue authorities are not convinced with the formula which has been put into use by the appellant and has held that the appellant has availed excess CENVAT Credit. On perusal of the the Notification No.23/2003-CE dt.31.3.2003 during the relevant period and also the provisions of Rule 3 of CENVAT Credit Rules, 2004, we find that the there is a formula prescribed under the said rule for availment of CENVAT Credit of the Excise duty paid by an 100% EOU under the provisions of Section 3 of Central Excise Act, 1944. The calculation given by the ld. Counsel as regards their submission that they have correctly availed CENVAT Credit, needs to be gone in detail after considering the provisions of CENVAT Credit Rules, 2004 read with said Notification No.23/2003-CE. In our considered view, the issue is contentious one and needs some time for disposal. In view of this, we find that the main appellant-assessee has not made out a prima facie case for complete waiver of pre-deposit of the amount of the duty demanded by the adjudicating authority - Conditional stay granted.
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