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2017 (1) TMI 297 - AT - Central ExciseReversal of CENVAT credit - reversal on the ground that the appellant in respect of certain inputs shown the input as waste and value of the input was shown reduced - Held that: - though input was shown in the books of the appellant as scrap and lesser value was shown, but it is not the case where the value of the input was written off. Therefore in my view Rule 3(5B) has no application - So long the input is lying in the factory credit cannot be asked to be reversed. Needless to say that as and when the input is cleared from the factory it will be liable for duty in terms of Rule 3(5B) of Cenvat Credit Rules, 2004. Reversal of credit not justified - appeal allowed - decided in favor of assessee.
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