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2013 (11) TMI 230 - CESTAT NEW DELHISSI Exemption – Cenvat Credit of duty on Inputs lying in stock - Applicability of Rule 11 (2) of CC Rules – Bar of Limitation – Held that:- The appellants case is squarely covered by provision of Sub-rule (2) of Rule 11 of CENVAT Credit Rules, 2004, as this Rule is applicable in respect of a manufacturer who opt for exemption based on value on quantity of clearances in a financial year - the appellant at the beginning of every financial year had opted for SSI Exemption - they were liable to pay an amount equal to the Cenvat credit availed in respect of inputs lying in stock or in process or contained in final products lying in stock which they have not done - When the Appellants case is covered by the provisions of Rule 11(2) of CENVAT Credit Rules, and the provisions of this sub-rule are clear and unambiguous, the same have to be given effect to and there is no scope for giving an interpretation to the provisions of Rule 11(2) which is at variance from the natural grammatical meaning of the wordings of this rule - the appellants may have a good case and as such entire duty demand may not be within limitation period. Waiver of Pre-deposit - The appellant have already paid an amount along with interest - the amount already paid is sufficient for hearing of this appeal - The requirement of pre-deposit of balance amount of Cenvat Credit demand interest and penalty is waived for hearing of the appeal – stay granted.
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