https://www.taxtmi.com/caselaws?id=380673 Dismantling and reassembling imported machinery in the factory did not amount to manufacture. Under Rule 16 of the Central Excise Rules, 2002, the assessee was required to reverse duty equivalent to the Cenvat credit taken on receipt of the goods. Because duty had been paid only on transaction value instead of the prescribed credit-reversal amount, liability survived only for the differential between the duty paid and the amount required under the rule. The penalty had to follow the reduced duty demand and was correspondingly curtailed, with consequential relief including the option to pay the reduced penalty. en-us Thu, 18 Apr 2019 00:00:00 +0530 Mon, 27 May 2019 06:55:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380673 Dismantling and reassembling imported machinery in the factory did not amount to manufacture. Under Rule 16 of the Central Excise Rules, 2002, the assessee was required to reverse duty equivalent to the Cenvat credit taken on receipt of the goods. Because duty had been paid only on transaction value instead of the prescribed credit-reversal amount, liability survived only for the differential between the duty paid and the amount required under the rule. The penalty had to follow the reduced duty demand and was correspondingly curtailed, with consequential relief including the option to pay the reduced penalty. Case-Laws Central Excise Thu, 18 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380673