9911796707
TMI Blog2017 (6) TMI 706X X X X Extracts X X X X X X X X Extracts X X X X ..... R for the Respondent ORDER Per: B. Ravichandran The appeal is against order dated 30.07.2013 of Commissioner of Central Excise, Indore. The appellant are engaged in the manufacture of PVC pipes and the products, liable to Central Excise duty. They are availing credit of duty paid input, capital goods in terms of Cenvat Credit Rules, 2004. There was a major fire accident in the premises of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,457/-. The credit already reversed was appropriated towards the liability. The original authority also imposed a penalty of Rs. 5,000/- under Rule 27 of Central Excise Rules, 2002 and imposed amount equal to credit as penalty under Rule 15(1) of Cenvat credit Rules, 2004. He ordered for recovery of interest of Rs. 13,87,035/- in terms of Rule 14 of Cenvat Credit Rules, 2004. 2. Ld. Counsel for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reiterated the findings of the lower authority and submitted that there is a delay in reversal of credit and during the period of delay the appellant should suffer interest. 4. We have heard both the sides and perused appeal records. Admittedly, the amount of credit reversable due to fire accident of the input, is not in dispute. We are not able to appreciate the reasons for imposing equal amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... either the notice nor impugned order mentioned the amount of credit actually utilised towards discharge of duty of final product. As admitted by the appellant, it is clear that interest liability will arise in case the appellant have utilised any portion of credit availed and available in their books, attributable to the inputs lost in fire accident. This can be verified by the jurisdictional offi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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