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2009 (4) TMI 395 - CESTAT, BANGALORECenvat Credit- A manufacturer opting not to maintain separate account for the inputs used for dutiable as well as exempted final product products, then they have to pay 10% of the price, excluding sales tax etc., on the value at which the exempted goods are sold. Show cause notices were issued to the appellant for demand of Rs. 1,19,75,862/- being 10% of the value of the goods cleared during the period October, 2005 to February, 2006 and interest was also sought to be, levied and also penalty under the provisions of Rule 15 of CENVAT Credit Rules. In the light of the decision of IOC Ltd. v. CCE, Lucknow, held that- we have clearly held that there is no question of reversing 10% of the amount of the value of the Sulphur cleared from the factory as an exempted product. The issue now stands settled in favour of the assessee, hence, the impugned order is liable to be set aside and we do so. The impugned order is set aside and appeal is allowed with consequential relief, if any.
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