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2016 (9) TMI 129
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...., Advocate-for the respondent ORDER The appellant M/s. Niranjan Decoflocks Pvt. Ltd. opted to avail of exemption under Notification No. 30/2004-CE dated 9.7.2004 which provided exemption to the product manufactured by them. Prior to opting this exemption, the respondents were availing the cenvat credit. A notice was issued to the appellant seeking reversal of credit availed on inputs lying i....
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....ondents argued that prior to 1.3.2004, there was no provision for reversal of the credit and therefore there was no need of reversal of credit. He further relied on the decision of Larger Bench of the Tribunal in the case of Ashok Iron and Steel Fabricators-2002 (140) ELT 277. He further argued that the said decision has been affirmed by the Supreme Court as reported 2003 (156) ELT A-212. Before t....
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....the credit. Learned AR produced Rule 9 (2) of Cenvat Credit Rules, 2002 which reads as follows: (2) A manufacturer who opts for exemption from the whole of the duty of excise leviable on goods manufactured by him under a notification based on the value or quantity of clearances in a financial year and who has been taking Cenvat Credit on inputs before such option is exercised shall ....
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...., applicable to the instant case. We also find that the show cause notice invoked Rule 6(1) of the Cenvat Credit Rules, 2002 for reversal of credit. We find that the respondents have made specific averments before the Commissioner (Appeals) which is reproduced below: 11. Reliance by the Ld. Adjudicating Authority on to Rule 6(1) of the Cenvat Credit Rules, 2002 is also not valid for....