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<h1>Penalty Reduced in Central Excise Appeal for Modvat Inputs Storage</h1> The penalty imposed by the Collector of Central Excise was reduced from Rs. 1,00,000 to Rs. 2,000 in the appeal. The appellants had stored modvat inputs ... Penalty - Token penalty The appeal was against a penalty imposed by the Collector of Central Excise, Aurangabad, which was reduced from Rs. 1,00,000 to Rs. 2,000. The penalty was for storing modvat inputs outside the factory due to space constraints, even though permission was sought but not received. The appellants paid the amount demanded within 4 days of being notified.
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