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2008 (3) TMI 315 - CESTAT, CHENNAICenvat Credit on receipt and use of material outside the factory premises - CENVAT credit to the appellants in respect of components of a power plant which was assembled out of such components and erected by one M/s. JSW Power Ltd., (which company, later on, came to be known as M/s. JSW Steel Ltd.,) in a piece of land leased out to them by the appellants under a lease agreement. Under the said agreement, M/s. JSW Power Ltd., set up the power plant in the leased premises by making use of components procured by them but consigned to the appellants. The power plant, when it became ready for commissioning, was handed over to the appellants some time in August, 2006 on payment of full consideration for the job. The appellants started using the power plant in April, 2007. CENVAT credit on the aforesaid components was taken to the extent of 50 per cent during the period September, 2005 to March, 2006 and the balance credit was taken in the next financial year (2006-07). – Stay Granted Partly
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