2014 (10) TMI 15

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....ouses as on 28-02-2011 and cleared subsequently without payment of duty, proceedings were initiated. As a result demand for central excise duty of Rs. 19,28,750/- with interest has been confirmed, redemption fine of Rs. 10,00,000/- and penalty of Rs. 3,00,000/- also have been imposed. In the impugned order appeal has been rejected on the ground that the appellant failed to deposit an amount of Rs. 15,00,000/- ordered to be deposited by the learned Commissioner (Appeals) in the Stay Order. Appellants are seeking complete waiver of pre-deposit and directions to the Commissioner to hear the appeal without any pre-deposit. 2. Heard both the sides. 3. The levy of Central Excise duty on readymade garments bearing a brand name or s....

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.... of passing Finance Bill 2011. At Para 3.3 of the said Instructions, the C.B.E. & C. for Sl. No. 10 on the issue/query raised by the Industry has provided clarification, which is reproduced below :- 10 What is the status of Finished Goods in the factory/warehouse as on 28-2-2011? Will goods produced before 28-2-2011 but lying in the warehouse attract duty? Are the manufacturers required to submit stock declaration? Excisable goods which were produced on or before 28-2-2011 but lying in stock as on 28-2-2011 would attract excise duty upon clearance. However, such goods as had already been cleared from the factory of the manufacturer at Nil rate of duty on or before 28-2-2011 but are lying in the warehouse/private store room for furt....