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2013 (2) TMI 566 - CESTAT CHENNAIJob work - Waiver of pre-deposit - Stay petition - Demand u/s 11A - Penalty u/s 11AC - Extended period of limitation - Rule 4(5)(a) of CENVAT Credit Rules, 2004 - Cost of production plus 10%/15% of the cost of the goods - Imported raw materials sent to job worker - After processing goods were returned to the applicants - Cleared on stock transfer basis to their other Unit - Reversing the credit taken by them at the time of import - After processing the same, have been cleared on payment of duty - Filing the ER-1 returns regularly Held that:- The applicants are reversing the credit taken by them at the time of import on stock transfer basis and the duty has been discharged by their sister Unit after processing the goods. Therefore, there is no Revenue loss to the department and further it is also contended that clearances made by them are in the knowledge of the department, therefore, extended period of limitation is not invokable The applicants have to discharge their duty liability as per the formula adopted by Ujagar Prints i.e., cost of production plus 10%/15% of the cost of the goods, same has not been done by the applicants. Further, the valuation adopted by the applicants was also not disclosed at the time of clearance of the goods. Therefore, the applicants have failed to make a case for 100% waiver of predeposit and hence they are directed to pre-deposit 50% of the duty confirmed against them. Pre-deposit waive partly.
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