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2013 (11) TMI 1154 - AT - Central ExciseReversal of Credit - Rule 3(4) of the CENVAT Credit Rules Clearance of capital goods as such - Waiver of Pre-deposit Assessee contended that they have not removed the capital goods as such - it was removed as used capital goods Held that:- Following CCE Vs. Rogini Mills Ltd. [2010 (10) TMI 424 - MADRAS HIGH COURT ] - They have rightly paid the duty on the transaction value - Rule 3(5) of the CENVAT Credit Rules, as amended by Notification No. 39/2007 provides that on removal of used capital goods, the manufacturer shall pay an amount equal to the CENVAT credit taken on the said capital goods reduced by 2.5% for each quarter of a year or part from the date of taking the CENVAT credit Pre-deposit of entire amount of duty along with interest and penalty stayed till the disposal stay granted.
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