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2014 (7) TMI 30 - AT - Central ExciseCENVAT Credit - Suo moto credit - whether appellant can take suo-moto credit of an amount which was reversed earlier and as to after how much time such credit can be taken - Held that:- appellant has clearly recorded in ‘Statement of Service Tax Credit’ for the month of September, 2006 that a credit of service tax of Rs. 37,47,071/- and Education Cess Rs. 42,608, taken in September, 2005, is reversed and revised credit of service tax Rs.35,51,684/- and Education Cess Rs. 69,858 for the period from 10.09.2004 to 31.03.2005 and 01.04.2005 to 31.12.2005 is taken. It is observed that there is nothing on record before this bench to show whether the revised credit of Rs. 36,21,542/- taken in September, 2006 was supported by same set of duty paying documents on the basis of which credit was initially taken by the appellant in September, 2005 together with some more documents for the period from October, 2005 to December, 2005. While holding that the appellant could suo-moto take credit in the facts and circumstances of the case for correcting the quantum of admissible service tax credit in view of the decision of the High Court of Madras in the matter of ICMC Corporation Limited Vs. CESTAT, Chennai (2014 (1) TMI 1473 - MADRAS HIGH COURT), and other case laws relied upon by the appellant, the matter is remanded to the adjudicating authority for verification whether the CENVAT credit of Rs. 36,21,542/- taken by the appellant in September, 2006 corresponds to a set of CENVATABLE documents against which CENVAT Credit of Rs. 37,89,679/- was initially taken in September, 2005 together with CENVATABLE documents for the period from October, 2005 to December, 2005 as recorded in appellant’s ‘Statement of Service Tax Credit’ for the month of September, 2006. If the entire credit of Rs. 36,21,542/- is ultimately found to be based on the strength of CENVATABLE documents, the appellant would be entitled to take credit of the same under the CENVAT Credit Rules, 2004. as no time limit for taking credit has been provided in these Rules - Matter remanded back - Decided in favour of assessee.
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