https://www.taxtmi.com/caselaws?id=126343 The Tribunal granted M/s. Burn Standard Co. Ltd. a waiver of pre-deposit and stay of recovery of irregularly availed Cenvat credit and penalty imposed under Rule 15 of Cenvat Credit Rules, 2004. The waiver was based on the appellant's evidence, including a certificate from a Chartered Engineer confirming the average consumption of furnace oil for production and the maintenance of costing records. The Tribunal considered the appellant's status as a central PSU incurring losses and ordered a complete waiver of pre-deposit and stay of recovery pending appeal decision. The case emphasizes the importance of maintaining separate accounts for inputs used in manufacturing dutiable and exempted products to avoid demands and penalties under Cenvat Credit Rules. en-us Tue, 28 Apr 2009 00:00:00 +0530 Mon, 05 Nov 2012 16:56:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126343 The Tribunal granted M/s. Burn Standard Co. Ltd. a waiver of pre-deposit and stay of recovery of irregularly availed Cenvat credit and penalty imposed under Rule 15 of Cenvat Credit Rules, 2004. The waiver was based on the appellant's evidence, including a certificate from a Chartered Engineer confirming the average consumption of furnace oil for production and the maintenance of costing records. The Tribunal considered the appellant's status as a central PSU incurring losses and ordered a complete waiver of pre-deposit and stay of recovery pending appeal decision. The case emphasizes the importance of maintaining separate accounts for inputs used in manufacturing dutiable and exempted products to avoid demands and penalties under Cenvat Credit Rules. Case-Laws Central Excise Tue, 28 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126343