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2016 (11) TMI 187 - AT - Central ExciseReversal of CENVAT credit at the time of clearance of capital goods on which Cenvat credit has been taken - the capital goods were cleared after using the same in the factory for as much as three years and duty stands paid on the transaction value - Held that: - w.e.f. 13/11/07, the Cenvat Credit Rules has been amended to provide for reversal of Cenvat credit after reduction by 2.5% per quarter, however, these provisions are not applicable for the period prior to the amendment. Prior to the amendment to the relevant rules w.e.f. 13/11/07, Cenvat credit availed at the time of purchase of the capital goods is not required to be reversed when cleared after use - appeal allowed - decided in favor of appellant.
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