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2014 (10) TMI 86 - AT - Central ExciseCENVAT Credit - Notification No.18/2012-CE (NT) dt. 17.3.2012 - transfer of unutilised cenvat credit of SAD lying in balance - Held that:- there is no dispute on eligibility of transfer of credit under Rule 10A of the said Rules. The adjudicating authority, already observed that there is non-compliance of the procedural requirement. In any event, we find that, according to the Revenue, the appellant would be eligible to transfer such credit on or after 1.7.2012 which they had transferred in 31.5.2012. In this context, the learned advocate submits that they have not utilized the entire credit. On a query from Bench, Ld. Advocate submits that they have utilized the credit during the relevant period about ₹ 25 lakhs. We find that the applicant transferred the credit but utilized about 4% of the credit during the material period - the words "at the end of a quarter" in the said Rules would apply from March 2012 quarter and there is no specific mention in the Rules that it would apply from June 2012. Applicant has made out a strong prima facie case for waiver of predeposit of entire amount of duty along with interest and penalty. Accordingly, the predeposit of entire amount of duty along with interest and penalty would be waived and its recovery be stayed till disposal of appeal. - stay granted.
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