2013 (12) TMI 1235

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....ad disposed the writ petition with the direction that the interim order of stay shall be extended for a period of two more weeks from the date of this order, so as to enable the assessee to avail his appeal remedy before the Tribunal, against the impugned order passed by the Revenue. Further, the Hon'ble High Court had also directed that in view of the pendency of the matter before the Hon'ble High Court, if the applicant moves proper application for condonation of delay, the same shall also be considered without closing the matter on delay aspect. In view of the direction of the Hon'ble High Court, the delay of 85 days in filing the above appeal is condoned. COD application is allowed. 2. The applicant is engaged in the manufacture of '....

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....had produced a Chartered Accountant's Certificate to prove the proportionate reversal. He also submits that the applicant reversed the proportionate CENVAT credit used in the manufacture of exempted goods during the relevant period amounting to Rs.97,85,380/- along with interest amounting to Rs.85,925/-. He also submits that on an identical situation, the Tribunal in series of decisions held that payment of 10% of the total price of the finished goods is not required in the case of proportionate reversal of CENVAT credit. 4. The learned authorised representative for the Revenue submits that Rule 6(3)(b) of the CENVAT Credit Rules, 2004 was amended on 01.04.2008. He further submits that from 01.04.2008, the applicant is required to revers....

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....ibutable to the inputs were used in the manufacture of exempted final product. However, this option should be used within a period of six months from the date on which the Finance Bill, 2010 receives the assent of the President of India (i.e., 07.11.2011). 5.1 The learned Commissioner in the instant case observed that the applicant did not exercise the above option within the stipulated period i.e., 07.11.2010. He also further observed that after 01.04.2010, the applicant failed to pay the amount equivalent to the CENVAT credit attributable to inputs/input service based on the formula under sub-clause (b) of sub-rule 3(A) of Rule 6 of the said Rules. 5.2 The contention of the learned counsel for the applicant that they have reversed t....