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TMI Blog2008 (8) TMI 684X X X X Extracts X X X X X X X X Extracts X X X X ..... Respondent. [Order per : S.S. Kang, Vice-President]. - Heard both sides. 2. The applicant filed these applications for waiver of pre-deposit of penalties imposed under Rule 25 of Central Excise Rules. The adjudicating authority imposed following penalties :- 1. M/s. Vee Aar Steels - Rs. 5,05,397/- 2. M/s. Om Iron & Steels - Rs. 11,33,877/- 3. Shri Rupesh Bansal, Prop. of M/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch credit has been availed by M/s. Khemka Ispat Ltd., Division-I and Division-III. During the relevant period, there are separate rules covering the Cenvat credit known as Cenvat Credit Rules 2002 and 2004 and the rules for Central excise, known as Central Excise Rules, 2002. Rule 25 of Central Excise Rules provides for imposition of penalty for contravention of any of the provisions of Central Ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any raw materials and on the basis of these invoices M/s. Khemka Ispat Ltd. Division-I & Division-III availed the credit of Rs. 66,90,065/- and Rs. 87,13,930/-. The contention is that the applicants are registered dealers under Rule 9 of Central Excise Rules, 2002. As per the provisions of Rule 10 of Central Excise Rules, the applicants are duty bound to maintain daily stock account in respect of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd they are duty bound to issue invoices which shall contain description, classification, time and duty of removal, rate of duty, quantity and value of goods and duty payable thereon. In these circumstances, as the applicant being a registered dealer has not complied with the condition of the Central Excise Rules, prima facie, we find that it is not a fit case for total waiver of penalty. The appl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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