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2012 (10) TMI 267 - AT - Central ExciseWaiver of pre-deposit - Denial of cenvat credit wrongfully availed on the exempted inputs - iron ore concentrate is exempted fully from payment of duty in terms of Notification No. 4/06-C.E., Held that:- Duty was paid by the assessee’s supplier despite exemption Notification - supplier was unaware of such notification or it may be that some condition of the notification was not complied with but, nevertheless, the fact remains that duty was paid by the assessee’s suppliers - assessee’s supplier in fact paid the duty on raw materials supplied to assessee and the department accepted this excise duty. The concept of modvat is that if the raw material suffered duty then relief should be given so far as excise duty on the final product is concerned - raw material supplier has already paid duty with the Government Exchequer. Therefore, the department shall not suffer irreparable loss - 100% waiver of demand of duty, interest and penalties allowed
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