1994 (3) TMI 248 - AT - Central Excise

Summary

The appeal was against an Order-in-Original by the Collector of Central Excise & Customs, Vadodara, regarding MODVAT Credit reversal and penalty imposition. The appellants admitted to the error in MODVAT Credit due to short-received inputs. The tribunal reduced the penalty to Rs. 50,000 due to absence of mala fide but upheld the liability. The excess payment made should be adjusted in the MODVAT account or PLA. The appeal was disposed of, and the stay application was also disposed of accordingly.