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2017 (6) TMI 316 - AT - Central ExciseCENVAT credit of amount of CVD paid through DEPB - whether the CENVAT Credit of the additional custom duty debited through DEPB against import licenses issued under earlier policy in respect of the bills of entries pertaining to year 2003 can be allowed in December, 2004 under the new Foreign Trade Policy? - Held that: - the Board Circular dt. 21.10.2004 has clarified that the said facility would be available only in respect of the licences issued under the new Foreign Trade Policy. It was also clarified in the said circular that licence under the previous policy would be governed by the provisions of earlier policy. The penalty of ₹ 10,000/- has been rightly imposed u/r 15(1) of the CCR, 2004 by correctly interpreting the said Rule. Appeal dismissed - decided against appellant.
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