2017 (6) TMI 854

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....acture of toughened glass, insulated glass and laminated glass falling under Chapter Headings 7007 1900, 7007 8001 and 7007 2900 of the Central Excise Tariff Act (CETA), 1985. The appellants were eligible for SSI exemption during the financial year 2005-06 and 2006-07 under Notification No.8/2003 dated 1.3.2003 and cleared goods valued up to Rs. 100 lakh at nil rate and above Rs. 100 lakh at 16% duty during the period after crossing the exemption limit of Rs. 100/- lakh and also availed CENVAT credit. The appellant availed CENVAT credit of Rs. 2,16,445/- on the input contents of the finished goods lying in stock on 14.10.2005 on crossing the exemption limit during 2005-06 as per Rule 3(2) of the CENVAT Credit Rules (CCR), 2004, and utilised....

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....cable to the appellant as the appellants were availing SSI exemption and then entering dutiable sector. He further submitted that the appellant did not avail any credit in 2005-06 to reverse it on 31.3.2006 nor avail SSI exemption from 1.4.2006 and the entire proceedings were initiated based on the assumption that the appellant availed credit of inputs during 2005-06 which ought to have been reversed to avail SSI exemption from 1.4.2006. He further submitted that the lapse committed by the appellant together with the non-reversal of credit with inputs and semi-finished goods were made good by the appellant by paying an amount of Rs. 2,17,061/- with interest up to 1.1.2008 the date on which payments were made. 5. On the other hand, the le....