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TMI Blog2020 (2) TMI 35X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellants are engaged in the manufacture of Reflex PVC Film falling under Chapter 39 and Coldflex falling under Chapter 76 of the Central Excise Tariff Act, 1985. They imported PVC film/aluminium in rolls and after slitting such rolls as per the required sizes, cleared the same under their brand name on payment of appropriate central excise duty. Alleging that the cenvat credit availed on the duty paid imported Reflex PVC film and aluminium rolls not admissible, show cause notice was issued to them for recovery of the credit amounting to Rs. 72,32,675/- for the period from May 2007 to December 2007 with interest and penalty; personal penalty was proposed on the Director under Rule 15(1) of the Cenvat Credit Rules, 2004. On adjudication, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... redit availed on jumbo rolls need not be reversed when such inputs are subjected to the process of cutting, slitting etc. 4. Learned AR for the Revenue reiterated the findings of the Commissioner. 5. We have carefully considered the submissions advanced by both sides and perused the records. The short issue involved for determination is whether the appellants are entitled to avail cenvat credit on imported inputs, viz. PVC film/aluminium in rolls, when they are subjected to process of cutting, slitting etc. to the required sizes as per the customer's requirements, cleared on payment of duty. We find that the issue is no more res integra being clarified by issuance of Notification No.24/2012- CE(NT) dated 19.04.2012. The said notification ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee shall not prefer a claim of refund of the excise duty paid by him on the said final product : Provided that the CENVAT credit, if any, taken by the buyer of the said final product, of the excise duty paid by the said assessee on the said final product made and cleared up to the 15th March, 2012 shall not be required to be reversed." 6. This Tribunal in the cases of Associated Capsules Ltd. (supra) and Medley Pharmaceuticals Ltd. (supra) held that cenvat credit cannot be demanded on the ground that the process of cutting, slitting etc. of jumbo rolls do not result into manufacture. Following the aforesaid precedent and in view of the clear wording of Notification No.24/2012-CE(NT) dated 19.04.2012, we do not find merit in the impu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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