Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2015 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (2) TMI 516 - AT - Central ExciseAvailment of SSI exemption - CENVAT Credit - Suppression of stock - Held that:- Counsel submitted a worksheet according to which it is seen that CENVAT inputs contained in the closing stock of the final product is only 18,087 kilogram and duty payable on that quantity is only ₹ 40,166/-. The learned counsel drew my attention to another worksheet which showed the details of invoices on which credit was taken and the learned counsel submitted that appellant had followed FIFO method and arrived at the quantum of cenvated inputs used in the final products and such cenvated inputs contained in the final product lying in stock. Prima facie, I found that worksheet to be in order and even though learned AR requested that the matter may be remanded for verification, I find that in view of the submissions by the learned counsel that the figures are correct and the unit has closed down and now it may not be possible to do any further verification also even though learned counsel promised to produce records. Accordingly, the appellant is directed to deposit the amount of CENVAT credit worked out by them with interest within eight weeks and report compliance on 6.3.2015. After noting the compliance, the matter will be finally decided. Prima facie, I have also taken a view that this is not a case where penalty should be imposed since this type of mistake can be made by SSI units. - Decided partly in favour of assessee.
|