TMI Blog2008 (8) TMI 684X X X X Extracts X X X X X X X X Extracts X X X X ..... ers. The applicants are duty bound to maintain time and correct stock of excisable goods and they are duty bound to issue invoices which shall contain description, classification, time and duty of removal, rate of duty, quantity and value of goods and duty payable thereon - In these circumstances, as the applicant being a registered dealer has not complied with the condition of the Central Excise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Rs. 11,33,877/- 3. Shri Rupesh Bansal, Prop. of M/s. Bhagwati Trading Company. - Rs. 79,95,933/- 4. M/s. Ayushi Steel Co. Pvt.Ltd - Rs. 57,68,784/- 5. Shri Rupesh Bansal, Parter of M/s. Om Iron Steels - Rs. 5,000/- 6. Shri Rupesh Bansal Director of M/s. Ayushi Steel Co. - Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... known as Central Excise Rules, 2002. Rule 25 of Central Excise Rules provides for imposition of penalty for contravention of any of the provisions of Central Excise Rules or notification issued under these rules with intent to evade payment of duty. The applicant had not made any contravention of Central Excise Rules, if any contravention is made it is of the Cenvat Credit Rules and during the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ral Excise Rules, 2002. As per the provisions of Rule 10 of Central Excise Rules, the applicants are duty bound to maintain daily stock account in respect of the excisable goods in their stock. In the present case, applicants had not received any raw material from the manufacturer of excisable goods under the cover of invoices and further issued invoices without maintaining any stocks, therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ler has not complied with the condition of the Central Excise Rules, prima facie, we find that it is not a fit case for total waiver of penalty. The applicants are directed to deposit 25% of the penalties imposed within a period of eight weeks. On deposit of the above-mentioned amount, the pre-deposit of remaining amount of penalties are waived for hearing of the appeal. Adjourned to 20-10-2008 fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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