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2012 (7) TMI 821 - AT - Central ExciseReversal of CENVAT Credit - Value partly written off in books of accounts - Held that:- prior to 01/03/2011, a manufacturer of final product who availed CENVAT credit on inputs was not required to reverse any part of that credit on the ground of a part of the value of the inputs being written off the books of accounts. Only cases of writing off the full value of the inputs on which CENVAT credit had been availed called for reversal of the credit. The present one is not such a case. It is also pertinent to note that the Department has no case that the amendment dt. 01/03/2011 has retrospective effect - Decided in favour of assessee.
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