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2013 (10) TMI 496 - CESTAT NEW DELHICENVAT Credit - issue of invoice without supply of material - Held that:- M/s. Bhagwati Trading Company, (as first stage dealer) were engaged in passing of inadmissible Cenvat Credit to various manufacturers/dealers by issuing invoices, without actually sending the duty paid goods shown as manufactured by M/s. Khemka Ispat Ltd. – They issue the cenvatable invoices to the manufactures of the goods and the second stage dealers - The invoices showed the goods manufactured by M/s. Khemka Ispat Ltd. - the cenvatable invoices on which the Cenvat Credit has been taken by M/s Anurag Alloys & Die Cast (P) Ltd. were not the genuine invoices as no goods manufactured by the manufacturer were supplied in these invoices - no credit is admissible to M/s Anurag Alloys & Die Cast (P) Ltd. Penalty - Imposition of Penalty under Rule 15 of Cenvat credit Rules r.w section 11AC of the CE Act – Held that:- There is no reason to interfere with this finding of the Commissioner (Appeal) in upholding penalty equal to inadmissible Cenvat Credit amount - there is no ground for interfering penalty imposed on M/s Jagdamba Metal Store also -the Order-in-Appeal was upheld – Decided against Assessee.
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