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2016 (11) TMI 575 - AT - Central ExciseReversal of CENVAT credit - inputs relatable to such ore cleared without payment of duty - Held that: - the appellant reversed the credit attributable to the exempted clearances, as such the substantial compliance with reference to Rule 6 has been recorded. However, we note that there is a delay in reversing the proportionate credit by the appellant. The liability of interest for the delayed reversal of credit is confirmed against the appellant. Except for this, we find that there is no legal justification to demand 5% on the value of exempted clearances in the present case - reversal of CENVAT credit not sustainable - appeal is allowed - the appellant liability to interest on delayed reversal of credit is confirmed.
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