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2012 (6) TMI 368 - AT - Central ExciseEligibility to set off Cenvat credit admissible on one category of goods against duty imposed on another category of goods - dispute regarding classification of Note Books, Accounts Books, Laminated Kraft Paper, Ruled Paper - assessee contending classification under Chapter No.4820.00 attracting NIL rate of duty - Held that:- Commissioner after classifying the product Ruled Paper under heading 4820.00 attracting Nil rate of duty and the product Laminated Kraft Paper under heading 4811.39 has rightly held that CENVAT Credit admissible can be used for further clearances only and cannot be adjusted against the demand of duty. Since, penalty u/s 11AC was also imposed, hence, redemption fine is reduced from Rs.78,250/- to Rs.10,000/- in the interest of justice. On facts and circumstances of case, penalty imposed on director is set aside.
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