2008 (8) TMI 684

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....ant. Shri M.M. Singh, DR, for the Respondent. [Order per : S.S. Kang, Vice-President]. -  Heard both sides. 2. The applicant filed these applications for waiver of pre-deposit of penalties imposed under Rule 25 of Central Excise Rules. The adjudicating authority imposed following penalties :- 1. M/s. Vee Aar Steels - Rs. 5,05,397/- 2. M/s. Om Iron & Steels ....

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....rial to the applicant and applicant further issued modvatable invoices on the strength of which credit has been availed by M/s. Khemka Ispat Ltd., Division-I and Division-III. During the relevant period, there are separate rules covering the Cenvat credit known as Cenvat Credit Rules 2002 and 2004 and the rules for Central excise, known as Central Excise Rules, 2002. Rule 25 of Central Excise Rule....

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.... of the Revenue is that in this case the applicant issued modvatable invoices without supply of any raw materials and on the basis of these invoices M/s. Khemka Ispat Ltd. Division-I & Division-III availed the credit of Rs. 66,90,065/- and Rs. 87,13,930/-. The contention is that the applicants are registered dealers under Rule 9 of Central Excise Rules, 2002. As per the provisions of Rule 10 of Ce....

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.... customers. The applicants are duty bound to maintain time and correct stock of excisable goods and they are duty bound to issue invoices which shall contain description, classification, time and duty of removal, rate of duty, quantity and value of goods and duty payable thereon. In these circumstances, as the applicant being a registered dealer has not complied with the condition of the Central E....