2018 (8) TMI 414

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....on under Notification No. 8/2003- CE dated 01.03.2003. A Show Cause Notice dated 05.10.2007 was issued alleging that they have availed credit of duty and Service Tax paid on Input and Input Services and also availed the exemption benefit during the same period simultaneously. The Adjudicating authority confirmed the demand of duty of Rs. 8,09,829/- consisting of Input Credit of Rs. 6,70,250/- and Input Service Credit of Rs. 1,39,571/- alongwith interest and imposed penalty of equal amount of duty. By the impugned Order the Commissioner (Appeals) rejected the appeal filed by the appellant. Hence, the present appeal is filed before the Tribunal. 2. The Learned Advocate on behalf of the appellant argued the matter at length and also submitt....

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....nd Rule 11(2) of the CENVAT Credit Rules, 2004 stipulates that- "A manufacturer who opts for exemption from the whole of the duty of excise leviable on goods manufactured by hum under a notification based on the value or quantity of clearances in a financial year, and who has been taking CENVAT Credit on inputs or input services before such option is exercised, shall be required to pay an amount equivalent to the CENVAT Credit, if any, allowed to him in respect of inputs lying in stock or in process or contained in final products lying in stock on the date when such option is exercised and after deducting the said amount from the balance, if any, lying in his credit, the balance, if any, still remaining shall lapse and shall not be....