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TMI Blog2017 (7) TMI 592X X X X Extracts X X X X X X X X Extracts X X X X ..... oceeding - the ld. Commissioner has arrived at the total amount of proportionate credit required to be reversed by the assessee, used both on dutiable and exempted product. The computation of quantum credit has been disputed by the assessee on the ground that while computing the amount, the inputs which were exclusively used in the exempted product cannot be construed as common inputs used both dutiable as well as exempted product. Hence, the amount if properly calculated would be reduced to around ₹ 4.00 lakhs - Revenue's appeal that the assessee should not be eligible to benefit of reversal of credit retrospectively, is without merit and not acceptable. The interest to be calculated within 10 days from the date of communication o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Excise Rules, 1944. The assessee thereafter filed an appeal before the ld. Commissioner (Appeals) and the matter was under litigation, in the meantime, the assessee pursuant to the Finance Act, 2010, filed an application before the Commissioner on 04.10.2010 under Section 69 of the Finance Act, 2010 intimating that the credit attributable to the common input, namely, printing ink used in the exempted product as ₹ 12.474/- and the interest @ 24% ₹ 10,006/-, supported by the C.A. certificate. After correspondences with the assessee, the ld. Commissioner by his order dated 03.12.2010 directed the assessee to pay the differential amount of ₹ 12,21,396/- along with interest @ 24% as per Section 69 of the Finance Act, 2010. 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssioner's Order is beyond the notice, hence not sustainable. 6. Ld. A.R. for the Revenue reiterating the grounds of appeal has submitted that the assessee is not entitled to the retrospective benefit extended to them under Section 69 of the Finance Act, 2010 as the interest @ 24% on the amount credit calculated, as required to be reversed was not discharged by the assessee. 7. Heard both sides and perused the record. I find that initially, the assessee has filed an application declaring one input namely, printing ink as commonly used both dutiable and exempted final product involving CENVAT credit of ₹ 12,474/- and interest ₹ 10,006/-. But later they have furnished their information for other inputs also during the cou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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