https://www.taxtmi.com/caselaws?id=348022 Penalty was sustained for failure to reverse CENVAT credit on kerosene cleared as such to the supplier. Mixed storage of imported and indigenous kerosene did not excuse non-reversal, because the responsibility for separate accounting arose from the appellant's own arrangement and the credit scheme did not create any ambiguity on reversal of inputs cleared as such. The plea of bona fide belief and difficulty in quantification was rejected, particularly where the appellant alone held the relevant production and clearance records and the investigation found incorrect declarations and an incorrect Chartered Accountant's certificate. en-us Mon, 11 Sep 2017 00:00:00 +0530 Fri, 15 Sep 2017 09:33:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348022 Penalty was sustained for failure to reverse CENVAT credit on kerosene cleared as such to the supplier. Mixed storage of imported and indigenous kerosene did not excuse non-reversal, because the responsibility for separate accounting arose from the appellant's own arrangement and the credit scheme did not create any ambiguity on reversal of inputs cleared as such. The plea of bona fide belief and difficulty in quantification was rejected, particularly where the appellant alone held the relevant production and clearance records and the investigation found incorrect declarations and an incorrect Chartered Accountant's certificate. Case-Laws Central Excise Mon, 11 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348022