9911796707
TMI Blog2010 (6) TMI 395X X X X Extracts X X X X X X X X Extracts X X X X ..... enalty : Rs. 51,98,607/- 2. After hearing both sides for sometime on the stay petition, we find that the appeal itself could be disposed of at this juncture and hence, after allowing the application for the waiver of pre-deposit of the amounts involved and dispensing with the same, we take up the appeal for disposal. 3. The learned Counsel for the appellant submits that the issue involved in this case is regarding the payment of 10% of the amount of the value of the exempted goods cleared from the factory premises. It is his submission that the appellants were availing the input services credit, which was used for dutiable as well as exempted goods. It is his submission that the lower authorities have held that the appellants, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at length by both sides and perused the records. It is undisputed that the appellant had reversed the Cenvat credit availed on the common input services, which were utilized by them for the manufacture of exempted as well as dutiable products. It is also undisputed that the said reversal was done before the adjudication order was passed. We find in agreement with the submissions of the learned Counsel that the amendment carried out by Section 73 of the Finance Act, 2010 to Rule 6 of the Cenvat Credit Rules, 2004 is of retrospective nature. The said amendment, which is in respect of the relevant period in this appeal, is reproduced : THE EIGHTH SCHEDULE Sl. No. Provisions of Cenvat Credit Rules, 2004 to be amended Amendment Per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which goods have been cleared from the factory.' 10th day of September, 2004 to the 31st day of March, 2008 (both days inclusive) 6. It can be seen from the above reproduced portion that the amount equivalent to the Cenvat credit attributable to the inputs or the input services used in, or in relation to the manufacture of exempted goods before or after the clearance of goods is reversed, has been accepted as sufficient compliance of the provisions of Rule 6(4) of the Cenvat Credit Rules provided the manufacturer pays interest @ 24% per annum. We find that in this case the appellant has already reversed the entire amount on the input services, which are used for the dutiable as well as exempted goods. Since the appell ..... X X X X Extracts X X X X X X X X Extracts X X X X
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