2024 (5) TMI 775

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....ise officers of Ghaziabad Commissionerate at appellant's unit. Shortage of Stock of inputs involving CENVAT duty of Rs. 41,28,106/- also shortage of some of the spare parts of the finished goods involving credit of Rs. 7586/-. Reason explained for shortage was security and safety reasons and it was shifted to another place under protest. Appellants reversed the amount of Rs. 41,28,106/- & Rs. 7586/- on 12.11.2014. Amount of Rs. 41,28,106/- + Rs. 7588/- was already deposited vide RG-23A PT-11 Entry No. 4. 2.1. Show cause notice [SCN] was issued as to why Cenvat credit of Rs. 41,28,106/- be not demanded and Central Excise Duty of Rs. 7586/- be not recovered, and as the said amount was paid by the appellant at the time of investigation, why....

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....2 allowed the appeal with consequential relief. 2.8. In pursuance of O-I-A dated 30.04.2021,Appellant again filed refund application of Rs. 41,28,106 and Rs. 7586/- which was debited on 12.11.2014. 2.9. Ld. Assistant Commissioner CGST Div. - VII GZB vide Order-In-Original No. R-02/AC/CGST Div. VII/GZB/2020-21 Dated 30.06.2021 sanctioned the refund and sanctioned interest on the amount of Rs.7,586 for the period from 13.11.2014 to 17.06.2021 but interest payable on the other amount of Rs. 41,28,106/- was sanctioned for the period from 01.01.2017 to 17.06.2021 instead of 13.11.2014 to 17.06.2021.Therefore, there is a short payment of interest of Rs. 5,24,623/-. 2.10.  An appeal was filed before the Ld. Commissioner (Appeals) whe....

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.... interest from the date the amount was debited/pre-deposited till the date it was refunded. Since it was not done, the impugned Order-In-Appeal is not sustainable in law. The correct amount of interest to be payable as per them is as under:- S. No. Period Amount Rate Interest 1 13.11.14 to 31.12.14 41,28,106 @6% 33251 2 01.01.15 to 31.12.15 41,28,106 @6% 2,47,686 3 01.01.16 to 31.12.16 41,28,106 @6% 2,47,686       Total Rs. 5,28,623/- 4. Learned Departmental Representative appearing on behalf of the Revenue has justified the impugned order. 5. Heard both sides and perused the appeal records. 6. I find that although the Appellant re-credited th....