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2011 (8) TMI 167 - AT - Service TaxCenvat credit - Benefit of Notification No.01/2006-ST dated 1.3.2006 - Reversal of credit was subsequent to the availment of exemption notification - Held that:- the decision of Hon ble Supreme Court in the case of Chandrapur Magnet Wires (P) Ltd. vs. CCE [1995 -TMI - 44150 - SUPREME COURT OF INDIA] has held that subsequent reversal of modvat credit amounts to non taking of credit on inputs and the benefit of exemption of notification cannot be denied even if reversal of credit on input was done - Therefore set aside the impugned order and remand the matter to the original adjudicating authority for verification of the fact of reversal of credit.
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