2011 (2) TMI 37

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....ver of pre-deposit of Rs.4,68,889/- demanded from it being 10% of the sale price of the exempted finished goods manufactured and cleared using credit availed common inputs and penalty of Rs.2,24,948/- imposed on it under Rule 15 (2) of the Cenvat Credit Rules, 2004 (CCR), holding the credit impugned was availed irregularly in violation of the CCR. Facts are that the appellants are engaged in manuf....

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....in the manufacture and clearance of dutiable as well as exempted final products. We note that in the Finance Act, 2010, a provision has been made for the appellants to discharge the liability in terms of Rule 6 (3) (b) of CCR by reversing or paying the credit relatable to inputs that went into the manufacture of exempted final products. Relevant provisions are contained in Section 73 of Finance Ac....