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TMI Blog2018 (3) TMI 919X X X X Extracts X X X X X X X X Extracts X X X X ..... nished goods containing such inputs which were procured before 17/12/2012. It is clear that under Sub-rule (2) of Rule 11 of CCR 2004, CENVAT credit contained in inputs which were lying in stock as on 17/12/2012 was reversed - CENVAT credit contained in inputs which have procured from 17/12/2012 and which have gone into manufacture of finished goods lying in the stock as on 31/03/2013 was required ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o availing Cenvat credit on inputs such as M. S. Scrap used in the manufacture of finished goods. On 17/12/2012 the appellants had crossed the SSI Exemption limit provided for in the Notification No. 08/2003-CE dated 01/03/2003 and started paying duty on clearances of finished goods. The appellants had paid Central Excise duty for the period from 17/12/2012 to 31/03/2013 and again opted for SSI Ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irmation of demand of ₹ 6,07,186/- as tenable in law. He also upheld the interest on the same. However, he reduced the penalty from ₹ 6,07,186/- to ₹ 3,00,000/-. Aggrieved by the said order, appellant preferred present appeal before this Tribunal. 3. Heard the ld. Counsel for the appellant. He has submitted that 365.219 MT of finished goods lying in stock on 31/03/2013 were ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ocured from 17/12/2012 and which have gone into manufacture of finished goods lying in the stock as on 31/03/2013 was required to be recovered under Sub-rule (3) of Rule 11 of Cenvat Credit Rules, 2004. Therefore, I do not find any infirmity with the order passed by the ld. Commissioner (Appeals). I, therefore, dismissed the appeal filed by the appellant. (Dictated in Court) - - TaxTMI - T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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