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HMM Coaches Ltd. Versus CCE, Panchkula

2016 (6) TMI 1089 - CESTAT CHANDIGARH

Reversal of cenvat credit - Demand at the rate of 8% of their clearances of their exempted goods during the period from April, 199 to June 2000 - Held that:- As per section 70 of Finance Act, 2010 an option was given to the assessee if they reverse p .....

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t, the same is sufficient. In the circumstances, we set aside the impugned order demanding an amount of 8% on the clearance of exempted goods. Reversal of the credit made by the appellant is sufficient but the appellant is directed to pay interest fo .....

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(Judicial) and Raju, Member (Technical) Shri Gagan Kohli, Advocate- for the appellant Shri M.R. Sharma, AR for the respondent ORDER The Appellant is in appeal against the impugned order demanded an amount at the rate of 8% of their clearances of the .....

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hereon. As the appellant was not maintaining separate accounts for inputs used for manufacture of dutiable/exempted final products, a show cause notice was issued to the appellant to demand an amount at the rate of 8% of their clearance of exempted g .....

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ounsel for the appellant submitted that after issuance of adjudication order, the appellant has reversed the entire amount of credit availed by them on the inputs used in dutiable/exempted final products. Therefore, the same be treated as sufficient .....

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ed the entire amount of credit availed by them instead of prorate credit. In that circumstance, the penalty is not imposable on the appellant under Finance Act, 2010. 4. On the other hand, learned AR opposed the contention of the learned Counsel and .....

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