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of <h1>Tribunal waives duty balance & penalty pending appeal for reversed credit on exempted products.</h1> The tribunal waived the balance amount of duty and penalty pending appeal as the appellants had already reversed the credit related to the exempted ... Stay/Dispensation of pre-deposit - Cenvat/Modvat The case involves M/s. Sundaram Industries Ltd. clearing Rubber Mixed Compound (RMC) under exemption but facing a demand of Rs. 9,07,847/- and a penalty of Rs. 50,000/- for irregular credit. The tribunal waived the balance amount of duty and penalty pending appeal, as the appellants had already reversed the credit related to the exempted products.
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