Home Highlights September 2014 Year 2014 This

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1. Irregular availment of CENVAT Credit - 100% CENVAT credit on capital goods availed in the first year instead of 50% - they had sufficient balance in their CENVAT credit...

2. Interest on differential duty- captive consumption - revenue neutrality - revised CAS-4 prepared by the cost accountant - the liability to pay interest on duties...

3. Liability of interest on reversal of irregular CENVAT Credit, before the amendment to Rule 14 - credit availed but not utilized - The amendment to Rule 14 of the Cenvat...

4. Levy of penalty - non discharge of tax liability - availment of irregular CENVAT Credit - amount already reversed by the appellant was proposed to be appropriated...

5. Interest cannot be claimed from the date of wrong availment of CENVAT credit - interest shall be payable from the date CENVAT credit is wrongly utilized - AT

6. Deduction of Interest liability - merely because assessee has disputed its liability it can can not be held as un-ascertained liability - interest liability of earlier...

7. Interest liability - Provisional assessment - interest is not payable if assessee pays the duty before finalisation - AT

8. Merchant exporter - Failure to export the goods - goods procured against CT1 certificate - appellant discharged the duty liability - Interest liability - the appellant...

9. Service Tax Liability - who is liable to discharge - service tax liability discharged through the agent is sufficient - AT

10. CENVAT Credit - sale of entire cement division operations - JSW Steel Ltd. (transferor company) provided any services to the appellants or not - there is no element of...

11. CENVAT Credit - duty paying invoices - performa invoices - the documents required under the Rule 9 are not confined to merely invoices but these may be any documents,...

12. Availment of irregular CENVAT Credit by the job worker - Invoices in name of other person i.e. Principal manufacturer - Credit allowed - AT

13. Irregular availment of CENVAT Credit - The omission to take registration as an Input Service Distributor can at best be considered as procedural irregularity - AT

14. Merely because the Insurance Company paid the assessee the value of goods including the excise duty paid, that would not render the availment of the cenvat credit wrong...

15. Rejection of refund claim of the interest - there was no question of payment of interest on irregular reversal of cenvat credit - AT