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2012 (3) TMI 182 - CESTAT, AHMEDABADReversal of CENVAT Credit attributable to the inputs used in the exempted goods and/or payment of 8% or 10% of the value of the exempted goods - period involved 01.03.2004 to 31.01.2009 – Held that:- Retrospective amendment brought in by the Budget 2008 renders that reversal of CENVAT Credit attributable to the inputs utilized in exempted product is enough and assessee need not to reverse 8% or 10% of the value of the exempted goods. Further, amendment also brought to the provisions of Rule 6 of CENVAT Credit Rules, 2004. In present case, assessee had reversed an amount of Rs.20,14,456/- and interest of Rs.16,10,915/-. Whereas CENVAT attributable to the inputs used in exempted goods comes to Rs.11,81,141/-. We find that adjudicating authority has not considered all these aspects in proper perspective thus, issue needs to be re-considered by the adjudicating authority – Appeal allowed by way of remand.
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