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2016 (9) TMI 129 - CESTAT CHANDIGARH

2016 (9) TMI 129 - CESTAT CHANDIGARH - TMI - Revarsal of Cenvat credit - invokation of Rule 6(1) of the Cenvat Credit Rules, 2002 - appellant opted to avail exemption under Notification No. 30/2004-CE dated 9.7.2004 which provided exemption to the product manufactured by them - Cenvat credit availed on inputs lying in the stock, in process and contained in the final products, on the date of opting for exemption - Held that:- the Rule 9(2) of Cenvat Credit Rules, 2002 produced by the Revenue pres .....

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ve used the inputs on which credit was taken only on dutiable finished goods, the question of invoking Rule 6 (1) does not arise. - Decided against the Revenue - E/3638/2006-EX(DB) - Final Order No. 60086/2016 - Dated:- 19-5-2016 - Mr. Ashok Jindal, Member (Judicial) and Mr. Raju, Member (Technical) Shri Harvinder Singh, AR- for the appellant Ms. Reeta, Advocate-for the respondent ORDER The appellant M/s. Niranjan Decoflocks Pvt. Ltd. opted to avail of exemption under Notification No. 30/2004-CE .....

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venue is in appeal before the Tribunal. 2. The Revenue has challenged the said order relying on the Rule 9(2) of Cenvat Credit Rules, 2002 and Rule 6 of the Cenvat Credit Rules, 2002. The Revenue has also relied on the Circular No. 795/28/2004-CX dated 28.7.2004 wherein the CBEC clarified the credit of duty taken on inputs which are on stock on the date finished goods become exempt would be required to be reversed because such inputs are going to be used in the final products which are exempt. 3 .....

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ilized the inputs on which the credit was taken in the manufacture of product which are dutiable at the time of such utilization and manufacture. He further argued that the exemption was not unconditional and option of paying duty was open to the respondent. 4. We have gone through the rival submissions. We find that the Commissioner (Appeals) has relied on the decision in the case of Ashok Iron and Steel Fabricators (Supra) to set aside the demand. The said decision of the Tribunal has been uph .....

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a financial year and who has been taking Cenvat Credit on inputs before such option is exercised shall be required to pay an amount equivalent to Cenvat credit, if any allowed to him in respect of inputs lying in stock or in process or contained in final products lying in stock on the date when such option is exercised and after deducting the said amount from the balance, if any, lying in his credit, the balance, if any, still remaining shall lapse and shall not be allowed to be utilized for pay .....

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