TMI Blog2016 (8) TMI 981X X X X Extracts X X X X X X X X Extracts X X X X ..... uty - Held that:- the ld. Commissioner has categorically recorded that all these payments/ reversal of credit by unit 1, Unit 2 and Unit 3 of the Appellant were made after admitting to the contravention of Rule 3(5) of Cenvat Credit Rules, 2004 as the POY cleared by them, was not covered under the purview of job work Notification No. 214/86-CE dated 25.03.1986. Hence, as the appellant has paid the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y Unit 1, Unit 2 Unit 3 on 08/09.02.2005. The said Units had reversed cenvat credit of ₹ 77,98,512/-, ₹ 22,01,266/- ₹ 19,29,540/- voluntarily on the POY lying which were received with out reversal of credit under Rule 3(5) of the Cenvat Credit Rules,2004 from the respective units. On completion of necessary investigation show cause cum demand notice was issued alleging irr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f interest at the appropriate rate on non payment/delayed payment of duty, under Section 11AB of the Central Excise Act, 1944. 3. Though the ld. Advocate fairly agrees that the interest has not been quantified, however, he submits that no interest is payable at all on the amount already paid by them. He submits that the demand confirmed against them for reversal of CENVAT credit under Rule 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat clearances of POY without reversal of the credit under Rule 3(5) of Cenvat Credit Rules, by said units were incorrect and accordingly, the reversal made subsequently, being admitting by the respective person Incharge of the units, cannot be faulted with. Once the Appellant had reversed the credit, liability of interest follows automatically as laid down under the statute. 5. We find that th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
