2011 (2) TMI 37

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..../s. Jaya Hume Pipes Pvt. Ltd. seeks waiver 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 t....

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....vailment of credit on common inputs used 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 ....