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TMI BlogApplicability of rule 8(3) - as reversal of cenvat duty is not duty on removal of goodsX X X X Extracts X X X X X X X X Extracts X X X X ..... Applicability of rule 8(3) - as reversal of cenvat duty is not duty on removal of goods X X X X Extracts X X X X X X X X Extracts X X X X ..... Got 1 Reply X X X X Extracts X X X X X X X X Extracts X X X X ..... cl.stock of raw-mat.on 8//704 was rs.20333/-The bal.amt rs.19424 was paid through TR-6 challan on 24/12/04. The Asst.comm.has issued notice that interest on late payment of so called 'cenvat duty'(ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isen as a result of revarsal of cenvat duty only)be paid as per rule 8(3) of Central Excise Rules [email protected]/-per day of default ant @ 13% p.a.u/s 11AB. qUERY:WHETHER aSST.COMM.IS JUSTIFIED IN APLLY ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ING rule 8(3)?Since rule 8(3) states that "any duty payable on removal of goods".Now "reversal of cenvat duty is not duty on removal of goods.Therefore,rule 8(3) does not apply abinitio. Pl.discuss. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sunil v mehta Reply By Surender Gupta: The Reply: In your case Cenvat Credit is required to be reversed under Rule 9(2) of the earstwhile Cenvat Credit Rules, 2002 (Now rule 11(2). This rule does no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t put any condition of payment of Interest. Further the action of the Asst. Commission is wrong to impose interest under rule 8 of Central Excise Rules. X X X X Extracts X X X X X X X X Extracts X X X X
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