No Penalty under Excise Act When Duty to Proportionate CENVAT Credit of Exempted Good Paid: CESTAT [Read Order]
The Tribunal held that since the appellant has paid the amount of 60,15,116/- which is proportionate Cenvat credit attributed to the exempted goods belatedly, they are liable to pay the interest till the date of reversal
The Ahmedabad bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) has observed that a penalty under the Excise Act is not leviable when duty to proportionate CENVAT credit of exempted goods paid. Further held that since the appellant has paid the amount of 60,15,116/- which is proportionate Cenvat credit attributed…
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