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2015 (2) TMI 1215 - CESTAT BANGALOREReversal of CENVAT credit - Rule 6(3) of Cenvat Credit Rules, 2004 - whether the accounts should have been maintained and segregation should have been done at the time of receipt itself? - Held that: - even subsequent reversal of credit would be sufficient and in this case before the raw materials/inputs were issued for manufacture of exempted goods, credit has been reversed - when the inputs were taken out for manufacture of exempted goods, they ceased to be cenvated inputs and since separate accounts for the inputs were maintained at this stage, it can be considered as fulfilment of obligation - appeal dismissed - decided against Revenue.
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