2022 (12) TMI 905

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....2. The appellant is engaged in manufacturing of Bitumen Emulsion (Excisable) and Blown Bitumen (Non-excisabel) and trading of various items, out of which major items are Anti Corrosive, (Black Bitumen Paint), Bitumen Compound, Debonding strip, Sealing compound and Wrap Crat paper. 2.1 A Show Cause Notice dated 04/04/2019 was issued demanding an amount of Rs. 67,505/- (i.e 6% of 10% of traded goods) on traded items to the tune of Rs.1,12,50,819/- during the Financial Year 2013-14 2.2. The Ld. Adjudicating Authority confirmed the demand and ordered for recovery of Rs.67,505/- under Rules 6(3) of the Cenvat Credit Rules, 2004 read with section 11A(4) of the Central Excise Act, 1944. Penalty of equal amount was also imposed. Being aggriev....

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....d records produced to me a summarized statement of such purchases & such sales of items traded in during the financial year 2013-14 is enclosed as Annexure-'A' (ii) I further certify that Central Excise paid on purchases of trading items have not been passed on to customers at the time of raising sale bills of trading items, therefore the Central Excise paid is absorbed by the Company by adding the same in their cost of purchases and no benefit of input credit was availed. (III) I have checked the figures from their audited accounts for the financial year April 2013 to March 2014 and found that the audited accounts, which was audited by M/s. Sumanta & Co., Chartered Accountants are in agreement with the figures depicted in....