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2011 (2) TMI 575 - HC - Central ExciseReversal of credit - Rule 57CC of the Central Excise Rules, 1944 - Retrospective amendment - introduction of new Rule 57CCC - No separate accounts are maintained - whenever they utilised ink in the manufacture of printed labels, they debited the proportionate amount of Modvat credit taken thereon to comply with the provisions of Rule 57C of the Rules - At the relevant time, in the light of the provisions of Rule 57CC of the Rules, the entitlement of the petitioner to reverse the credit to the extent of common inputs used in the manufacture of goods which carried nil rate of duty was in doubt - It is the case of the petitioners that they are not required to make any such application since they have already reversed the amount of credit taken in respect of the common input used in the manufacture of product carrying nil rate of duty - Matter remanded back - Petition is allowed by way of direction to the petitioner
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