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2014 (4) TMI 454 - CESTAT NEW DELHIReversal of CENVAT Credit at the rate of 8% of their value of exempted final product - Rule 6(3) of Cenvat Credit Rules - No separate accounts were maintained by the appellant in respect of the raw material used for dutiable as also exempted goods - appellant had taken a stand that in as much as the entire input credit involved on dutiable as well as exempted goods stand reversed by them, there is no justification for confirmation of demand in terms of Rule 6 - Held that:- Reversal of cenvat credit figures have been verified and found to be correct. The said letter also accepts the payment of interest by the assessee. Verification report of the jurisdictional Range officer also stands enclosed. The said letter accepts the application in terms of the amended Rule 6 of Cenvat Credit Rules, 2004 - In as much as the applicant has reversed the entire credit along with interest, as is very clear from the letter of Commissioner, demand set aside - Decided in favour of assessee.
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