9911796707
TMI Blog2008 (3) TMI 526X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s. Marshal Textiles Pvt. Ltd. has applied for waiver of pre-deposit and stay of recovery of duty and penalty in terms of the impugned order which had affirmed the order of the original authority. The original authority had confirmed demand of Rs. 3,81,319/-, imposed equal amount of penalty and demand of interest due on the amount demanded. The facts of the case are that the appellant, a manufact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the appellant had reversed the impugned credit in April, 2005 using the credit earned in March-April, 2005, which was in violation of proviso to Rule 3(4) of the Cenvat Credit Rules, 2004. Credit was wrongly taken and utilized. The proposal was confirmed after due process of law and orders as discussed earlier passed by the original authority. In the impugned order, the Commissioner (Appeals) h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not be cleared availing exemption under Notification No. 30/2004-C.E., dated 9-7-2004, if the appellant had used credit availed inputs in production of such goods. 4. I have studied the submissions by both sides. The demand of credit of Rs. 3,81,319/- has been made on the basis of the following provisions of Cenvat Credit Rule 3. (4) The Cenvat credit may be utilised for payment of (a) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the extent such credit is available on the last day of the month or quarter as the case may be. In the instant case, the appellant had utilized credit earned in Mar. 05 and Apr. 05 to make good the non-reversal of credit they should have made prior to 12-7-2004. The payment of credit relatable to stock of inputs, work-in-progress and finished goods prior to 12-7-2004 is not the duty envisage ..... X X X X Extracts X X X X X X X X Extracts X X X X
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