TMI Blog2015 (10) TMI 1335X X X X Extracts X X X X X X X X Extracts X X X X ..... way of debit in RG23A. The issue has already been settled by LB of the Tribunal in the case of Navodhaya Plastic Industries Ltd., (2013 (12) TMI 82 - CESTAT CHENNAI ). - The appellant has already paid the differential credit of ₹ 6,168/- by debiting in their RG-23A as per depreciation formula given in the said Board's Circular. Therefore, the differential demand is restricted to ₹ 3,63 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 1,48,522/-. Ld. adjudicating authority confirmed the differential credit of ₹ 34,208/- and also imposed equal penalty. On appeal the Commissioner (Appeals) has upheld the order passed by the adjudicating authority. Hence the present appeal. 2. Ld. Consultant for the appellant submits that differential credit has been demanded without allowing the depreciation on the capital goods used ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reciation. I find from the work sheet submitted by the appellant, the original value of capital goods is ₹ 11,42,067/- on 5 machines and credit availed was ₹ 1,82,731/-. However, at the time of clearance of the said capital goods after use, they paid duty of ₹ 1,48,523/- on the transaction value of ₹ 9,28,267/-. The value arrived after allowing depreciation is ₹ 9,51, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h effect from 13-11-2007, the following provision has been introduced in Rule 3(5) ibid . Provided also that if the capital goods on which Cenvat credit has been taken are removed after being used, the manufacturer or provider of output service shall pay an amount equal to the Cenvat credit taken on the said capital goods reduced by 2.5 per cent for each quarter of a year or part thereof from t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... capital goods as per Board's Circular dated 01.07.2002. The appellant has already paid the differential credit of ₹ 6,168/- by debiting in their RG-23A as per depreciation formula given in the said Board's Circular. Therefore, the differential demand is restricted to ₹ 3,639/-. Since they have paid the differential amount and interest before adjudication, there is justificatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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