https://www.taxtmi.com/caselaws?id=30278 Failure to maintain separate accounts for common inputs used in both dutiable and exempted final products attracted the statutory consequence of paying an amount equal to 8% of the price of the exempted clearances under the relevant Central Excise/Cenvat rules, and the demand was upheld. The record showed that invoices alone were maintained for the two streams, but the prescribed separate accounts for receipt, consumption and inventory were not kept, and no contrary evidence rebutted that finding. The penalty was treated as excessive in the circumstances and was reduced to a nominal amount of Rs. 5,000. en-us Mon, 29 Oct 2007 00:00:00 +0530 Thu, 21 Aug 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30278 Failure to maintain separate accounts for common inputs used in both dutiable and exempted final products attracted the statutory consequence of paying an amount equal to 8% of the price of the exempted clearances under the relevant Central Excise/Cenvat rules, and the demand was upheld. The record showed that invoices alone were maintained for the two streams, but the prescribed separate accounts for receipt, consumption and inventory were not kept, and no contrary evidence rebutted that finding. The penalty was treated as excessive in the circumstances and was reduced to a nominal amount of Rs. 5,000. Case-Laws Central Excise Mon, 29 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30278