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2018 (3) TMI 985 - AT - Central ExciseReversal of Cenvat Credit - Non-payment of amount on monthly basis as per the provisions of Rule 6(3A) of Cenvat Credit Rules - demand of an amount equal to the 10% of the value of the exempted goods under sub-rule (3)(i) of Rule 6 of the CCR - Held that: - considering that the intimation regarding closing balances was submitted within three days of filing their option, it appears that the same has been done within the reasonable period and the Revenue s contention in this regard is not tenable - the Board s Circular dt. 09.05.2008 laid down that the calculation of Cenvat credit attributed to inputs is to be done on the basis of actual consumption of inputs used and the quantification may be made based on the stores/production records maintained by the manufacturer. Since, the appellants have done the same on actual monthly basis and a certificate from the Chartered Accountant was submitted at the end of the year, the Revenue is not prejudiced by the approach based on actual consumption in accordance with Board s Circular dt. 09.05.2008. Tribunal in the case of M/s Mercedes Benz India (P) Ltd vs CCE, Pune-I [2015 (8) TMI 24 - CESTAT MUMBAI] has held that we do not understand that when the appellant have categorically by way of their intimation opted for option provided under sub-rule (3)(ii), how Revenue can insist that option (3)(i) under Rule 6 should be followed by the assessee. Appeal allowed - decided in favor of appellant.
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