Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2011 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (6) TMI 514 - AT - Central ExciseReversal of Cenvat Credit - inputs - writing off as obsolete - Rule 5 (b), which was inserted in the statute with effect from 11/05/2007, which provides that if the inputs on which Cenvat credit has been taken is written off fully or where any provision to write off fully has been made in the books of account, then the manufacturer or service provider as the case may be shall pay an amount equivalent to the Cenvat credit taken in respect of the said input or capital good - The period in the case in hand is prior to 11/05/2007 therefore, the provisions of Rule 3 (5) (b) of the Cenvat Credit Rules, 2004 are not applicable to the facts of this case - demand of duty or reversal of Cenvat Credit cannot be made in respect of inputs or capital goods although they have become obsolete but lying in the said factory, duty is payable only at the time of removal of such inputs. - Appeal is allowed
|