TMI Blog2010 (6) TMI 395X X X X Extracts X X X X X X X X Extracts X X X X ..... er (J) and P. Karthikeyan, Member (T) REPRESENTED BY : Shri K.S. Naveen Kumar, Advocate, for the Appellant. Shri M.M. Ravi Rajendran, JDR, for the Respondent. [Order per : M.V. Ravindran, Member (J)]. - This stay petition is directed against the waiver of pre-deposit of the following amounts :- (i) Duty : Rs. 51,98,607/- (ii) Penalty : Rs. 51,98,607/- 2. After hearing both sides for sometime on the stay petition, we find that the appeal itself could be disposed of at this juncture and hence, after allowing the application for the waiver of pre-deposit of the amounts involved and dispensing with the same, we take up the appeal for disposal. 3. The learned Counsel for the appellant submits that the issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Finance Act, 2010. 4. The learned DR submits that the appellant has reversed the Cenvat credit availed on the input services, which are used for dutiable as well as exempted goods. He would submit that the amendment made by Section 73(1) of the Finance Act, 2010 is of retrospective nature. 5. We have carefully considered the submissions made at length by both sides and perused the records. It is undisputed that the appellant had reversed the Cenvat credit availed on the common input services, which were utilized by them for the manufacture of exempted as well as dutiable products. It is also undisputed that the said reversal was done before the adjudication order was passed. We find in agreement with the submissions of the learned Coun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inputs or input services used in, or in relation to the manufacture of, exempted goods before or after the clearance of such goods : Provided that the manufacturer shall pay interest at the rate of twenty-four per cent per annum from the due date till the date of payment of the said amount. Explanation For the purpose of this sub-rule, "due date" means the 5th day of the month following the month in which goods have been cleared from the factory.' 10th day of September, 2004 to the 31st day of March, 2008 (both days inclusive) 6. It can be seen from the above reproduced portion that the amount equivalent to the Cenvat credit attributable to the inputs or the input services used in, or in relation to the manufact ..... X X X X Extracts X X X X X X X X Extracts X X X X
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