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2013 (12) TMI 692 - AT - Central ExciseCenvat credit taken on inputs used for the manufacture of high precision tools - Waiver of Pre-deposit – Held that:- The screws, inserts and cartridges, whether imported or procured indigenously, were cleared in assembled condition with the finished products and Central Excise duty was paid on such assembled goods on its transaction value - the Central Excise duty so paid was always higher than the CENVAT credit on inputs utilized - Central Excise duty on transaction value was paid on the imported inputs cleared ‘as such’ from the factory and that such duty was also higher than the CENVAT credit taken of CVD. The amount of duty paid by the appellant on finished goods or on inputs cleared ‘as such’ is higher than the CENVAT credit taken on inputs, a situation better than revenue-neutral exists and no intent to avail undue benefit of CENVAT credit can be attributed to the appellant – Pre-deposits waived till the disposal – Stay granted.
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