2018 (8) TMI 311

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....ity of cenvat credit on the imported wire bars as well as on the domestically procured wire bars falling under Chapter subheading 7228.30. With regard to imported wire bars, Cenvat credit was availed in respect of Countervailing duty (CVD) and additional duty (SAD) and Cess. It is the matter of record that some of the wire bars imported by the appellant as well as those purchased from domestic market were cleared as such, which is permissible under Cenvat Credit Rules, 2004 and reversed the cenvat credits availed on CVD and Cess credits in case of imported goods and reversed Central Excise duty credit of domestically procured goods. The appellant however in ignorance have not reversed the credits of Additional duty (SAD) availed by them on ....

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....cleared as such, or traded by them. The basic issue of dispute in this case has arisen as both the imported as well domestically procured wire bards being cleared as such without keeping separate records whether the SAD credits on the entire quantity of as such cleared wire bars to be reversed back or proportionate credit of procurement of imported and domestically procured wire bars to be worked out and then in that ratio cenvat credit of SAD can be reversed back. It is the matter of record that the appellant on being pointed out about the above lapse, on his own accord has reversed back the credits of Rs. 2,25,33,782/- along with interest of Rs. 54,06,579/-. The appellant has contested that they have reversed the proportionate SAD credits....