Court Demands 10% Value of Exempt Goods for CENVAT Credit; Appellant's Claim for Interest Adjustment Needs Review.

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....CENVAT Credit - common input services used in taxable as well as exempt goods - The adjudicating authority straight away demanded 10% of the value of exempted goods. Therefore, he neither examined the reversal of cenvat credit made by the appellant nor even calculated the proportionate credit. The submission of the appellant also needs to be reconsidered whether the excess amount can be adjusted against the interest. - AT....