Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
The appellant had reversed CENVAT credit amount u/r 6(3) for goods cleared for export under Notification No. 4/2006-CE and claimed refund. CESTAT held that reversal u/r 6(3) was not justified for exports under conditional Notification No. 4/2006-CE as per Rule 6(6)(v). The exempted goods cleared for export are eligible for CENVAT credit. The appellant is not required to pay amount u/r 6(3) for goods exported under said notification. Impugned order set aside and appeal allowed.
The appellant had reversed CENVAT credit amount u/r 6(3) for goods cleared for export under Notification No. 4/2006-CE and claimed refund. CESTAT held that reversal u/r 6(3) was not justified for exports under conditional Notification No. 4/2006-CE as per Rule 6(6)(v). The exempted goods cleared for export are eligible for CENVAT credit. The appellant is not required to pay amount u/r 6(3) for goods exported under said notification. Impugned order set aside and appeal allowed.
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