Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2007 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2007 (11) TMI 487 - CESTAT, NEW DELHICenvat/Modvat credit - Capital goods - Reversal of credit - Held that: - the respondent cleared the capital goods under Rule 3(4) of CCR, 2002. Rule 3(4) of CCR, 2002 provides that when inputs or capital goods on which Cenvat credit has been taken are removed as such from the factory, the manufacturer of the final products shall pay an amount equal to the credit availed in respect of such inputs of capital goods and such removal shall be made under the cover of an invoice referred to in Rule 7 - there is no dispute that the capital goods were cleared in the month of May, 2003. Therefore, Cenvat Credit Rules, 2002 would be followed at the time of clearance of the said goods - appeal allowed - decided in favor of Revenue.
|