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2018 (1) TMI 693 - AT - Central ExciseCENVAT credit - input sent to job worker - Revenue by entertaining a view that at the time of re-credit of duty in respect of moulds and dies, the same should have been availed on the depreciated value of moulds at the rate of 2.5% quarterly - Held that: - Inasmuch as there was no requirement to make payment of any excise duty when clearing moulds and dies sent to the job workers, the confirmation of demand of duty and the denial of credit on the ground that the same should have been availed on the depreciated value, at the time of receipt back of the said moulds, cannot be upheld. The duty paid by the assessee was available as a credit to the job worker and on return of the same, the job worker, was under legal obligation to pay such credit availed by them and on the basis of the same, the appellant would have availed the credit. As such, the entire situation was revenue neutral. Appeal allowed - decided in favor of appellant.
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