TMI Blog2017 (4) TMI 324X X X X Extracts X X X X X X X X Extracts X X X X ..... ontention of the appellant is that it has carried forward and utilised the credit during the period 1-4-2010. As such the SCN issued on 21-3-2010 is barred by limitation. They have also taken an additional ground that apart from clearing the kraft paper under exemption, they also paid paper cess at the rate of 125% of the assessable value u/s 9 of the Industries (Development and Regulation) Act, 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of small scale Notification No. 4/2008-C.E., dated 1-3-2008 and started clearing its goods at nil rate of duty. The appellant reversed the Cenvat credit involved in stock of inputs lying either as such or in the shape of final product or intermediary products. After reversal of the credit, the balance amount of ₹ 11,72,064/- still remained in their account. 2. The appellant continued to a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ). Both the authorities have relied upon Rule 11 of the Cenvat Credit Rules, 2004, which is to the effect that if the assessee opts for exemption based on value or quantity of the clearances and if after reversing the credit involved in the input stock or final product stock as on the date of exercise of such option, the balance credit, if any, shall lapse and would not be allowed to be utilised f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 of the Cenvat Credit Rules, 2004 as inapplicable. The said plea, which stands made by way of additional submission was not placed before the lower authorities. As such, I am of the view that the matter needs to be go back for considering the above plea of the assessee. Inasmuch as the matter is being remanded to the original adjudicating authority, he shall also consider the issue of limitation, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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