2006 (9) TMI 415

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..... ent is a manufacturer of medicine. It received several inputs which were eligible for Modvat credit. Accordingly, credit was also taken. However, for various reasons, the credit taken inputs could not be utilised for production for about 2 years. Thereupon, Revenue authorities asked the appellant to reverse the credit taken on those inputs and the appellant reversed the credit as well as paid inte .....

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..... were not used in the manufacture of final products. Revenue relied on Rule 13 of Cenvat Credit Rules, 2002, which reads as under: Rule 13. Confiscation and penalty. - (1) If any person, takes CENVAT credit in respect of inputs or capital goods, wrongly or without taking reasonable steps to ensure that appropriate duty on the said inputs or capital goods has been paid as indicated in the documen .....

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