2014 (10) TMI 375

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..... wing the procedure prescribed therein. What is required to be shown is that the goods have been accounted for. Now there are no prescribed statutory records in Central Excise law except for daily stock account the proforma of which is prescribed and is statutorily required to be maintained. Therefore an assessee is free to maintain records which according to him are required and sufficient for the .....

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..... nterest. Penalty equal to the amount demanded has also been imposed. 2. The learned counsel submits that appellant has received rejected goods from the customer and same were accounted for in the Cenvat credit account maintained by them. According to him no further action was required on their part. Once the goods returned are taken into Cenvat credit account, they go into the manufacturing pro .....

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..... Rule 16 any rejected goods on which duty has been paid can be brought back to the premises of a manufacturer for any reason and by following the procedure prescribed therein. What is required to be shown is that the goods have been accounted for. Now there are no prescribed statutory records in Central Excise law except for daily stock account the proforma of which is prescribed and is statutorily .....

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