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2013 (4) TMI 706 - CESTAT AHMEDABADWaiver of pre deposit - Reversal of CENVAT Credit - exemption under Notification No. 30/2004-C.E., dated 9-7-2004 - whether Cenvat credit lying in balance when the appellant started availing full exemption under Notification No. 30/2004-C.E., dated 9-7-2004, is required to be reversed or not - Held that:- There was accumulated credit lying in Cenvat credit account which the Revenue is holding that the same will stand lapsed on the date appellant started availing benefit of Notification No. 30/2004-C.E. It is apparent from the facts on record that the provisions of Rule 11(3) of the Cenvat Credit Rules, 2004 were inserted with effect from 1-3-2007 as per Notification No. 10/2007-C.E. (N.T.), dated 1-3-2007. The period involved in the present proceedings is March, 2006. It has been held by the Hon’ble Karnataka High Court in the case of C.C. Ex., Bangalore-II v. Gokaldas Intimate Wear (2011 (4) TMI 1123 - KARNATAKA HIGH COURT) that, the assessee is entitled to the credit with respect to the inputs and inputs contained in the goods lying in stock on the date prior to exemption Notification, and that amendment brought under Notification No. 10/2007-C.E. (N.T.) will have only prospective applicability. Further, this very Bench in the case of Sunflag Filaments Industries and others under Order No. M/11719 to 11722/WZB/AHD/2013, dated 2-4-2013, has granted unconditional stay on the same issue. - prima-facie appellant has made out a case for complete waiver of confirmed dues. Accordingly, stay is granted from recovery of confirmed dues till the disposal of the appeal. - Stay granted.
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