https://www.taxtmi.com/caselaws?id=462180 CESTAT Kolkata held that appellant's failure to file option letter for proportionate CENVAT credit reversal under Rule 6(3)(i) of CENVAT Credit Rules, 2004 should not result in penalty payment of 5%/6% of exempt goods value. Following Mercedes Benz precedent, Tribunal ruled that procedural non-compliance shouldn't deprive assessee of proportionate credit reversal option. Demand of Rs. 15,86,088 under Rule 6(3)(i) was set aside, while appellant's proportionate reversal of Rs. 5,91,987 under Rule 6(3A) with interest was accepted. Appeal disposed favorably for appellant. en-us Fri, 24 Feb 2023 00:00:00 +0530 Fri, 30 May 2025 18:57:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462180 CESTAT Kolkata held that appellant's failure to file option letter for proportionate CENVAT credit reversal under Rule 6(3)(i) of CENVAT Credit Rules, 2004 should not result in penalty payment of 5%/6% of exempt goods value. Following Mercedes Benz precedent, Tribunal ruled that procedural non-compliance shouldn't deprive assessee of proportionate credit reversal option. Demand of Rs. 15,86,088 under Rule 6(3)(i) was set aside, while appellant's proportionate reversal of Rs. 5,91,987 under Rule 6(3A) with interest was accepted. Appeal disposed favorably for appellant. Case-Laws Service Tax Fri, 24 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462180