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2014 (8) TMI 138 - AT - Central ExciseUtilization of ineligible CENVAT Credit - default in terms of Rule 8(3A) - Interest - Penalty u/s 11AC - excise duty beyond the permissible period of time of 30 days - Utilization of credit after permissible period - Held that:- If the duty liability is not discharged by the due date and the default continues for period of 30 days from the due date, the appellant is prohibited from utilizing the CENVAT Credit for the purpose of payment of duty in respect of the subsequent clearances. In view of this legal provision, the appellant could not have utilized CENVAT Credit to the extent confirmed in the impugned order. Therefore, the appellant has not made out a case for waiver of pre-deposit as prayed in the stay petition. Accordingly, we direct the appellant to make a pre-deposit of ₹ 55,04,474/- in cash within a period of four weeks and report compliance by 24.7.2014. On such payment in cash, the appellant would also be entitled to take equivalent credit in their CENVAT Credit account. On such compliance, the pre-deposit of balance of dues adjudged shall stand waived and recovery thereof stayed during the pendency of the appeal - Conditional stay granted.
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