2016 (6) TMI 1089

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.... Shri M.R. Sharma, AR for the respondent ORDER The Appellant is in appeal against the impugned order demanded an amount at the rate of 8% of their clearances of their exempted goods during the period from April, 199 to June 2000. 2.  The facts of the case are that the appellant manufacture dutiable as well as exempted final products. During the period 1999-2000, the appellant proc....

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....mand at the rate of 8% of the exempted final products be raised. He therefore, submitted that the appellant is ready to pay interest on applicable rate during the intervening period. He also submitted that as the appellant has already reversed the entire amount of credit availed by them instead of prorate credit. In that circumstance, the penalty is not imposable on the appellant under Finance Act....