2018 (5) TMI 859

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....Appellant Mr. N. Jagadish, Superintendent (AR) For the Respondent ORDER The present appeal is directed against the impugned order dated 21.03.2016 whereby the Commissioner (Appeals) has modified the Order-in-Original. Briefly the facts of the present case are that the appellants are engaged in the manufacture of MS Ingots, MS Bars and they have availed cenvat credit on i....

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....le to pay an amount equal to 5% of the value of trading under the provisions of Rule 6(3) (i) of Cenvat Credit Rules, 2004 along with penalties under Rule 15(1) of the Cenvat Credit Rules. 2.   Heard both the parties and perused the records. 3.   Learned counsel for the appellant submitted that the impugned order is not sustainable in law as the same has been ....

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....f inputs as such. He also submitted that the provisions of Rule 3(5) of the Cenvat Credit Rules 2004 specifically provides for clearance of inputs as such on reversal of credit originally availed and there is no condition appended to Rule 3(5) to reverse the credit availed on -input services at the time of clearance of inputs as such. He further submitted that this issue has been squarely decided ....

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....rer and he has cleared some inputs as such by reversing the cenvat credit taken by them originally on the said input and therefore, activity is covered by Rule 3(5) of Cenvat Credit Rules and therefore they are not required to follow the  procedure as prescribed under Rule 6 against clearances of some of the inputs as such does not amount to trading and the Revenue has also not been able to e....