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2017 (12) TMI 1302 - AT - Central ExciseCENVAT credit - removal of inputs as such - Bitumen - price variation clause - whether the appellant has removed inputs as such and thus failed to reverse the cenvat credit taken as required under the scheme of the Act & under Rules? - Held that: - If the allegation in the SCN are taken on their face value, the appellant will never incur a profit, rather always put to loss on selling their inputs - there is price variation clause, which mentions that the rates of bitumen emulsion are based on the rate of bitumen as on 1st January, 2012 for supplies in bulk (exclusive of Excise Duty and Sales Tax). The price taken for the purpose of working out the price variation will consist of basic price of bitumen only, prevailing on the rate 15 days prior to the date on which the said lot was offered for inspection, as indicated in the Inspection Note. The basic rates quoted in the quotation list are subject to the price variation clause. The appellant was removing Bitumen emulsion and not bitumen as such - appeal allowed - decided in favor of appellant.
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