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2018 (5) TMI 206 - CESTAT MUMBAIReversal of CENVAT credit - inputs written off and written back in the books of account - Rule 3(5B) of the CCR 2004 - Held that: - as and when assessee writes off the quantity of inputs on which the Cenvat Credit was taken, he is required to reverse an amount equivalent to cenvat credit taken in respect of the inputs which has been written off in the books of account. Therefore in principle on the quantity of inputs written off in the books of account, cenvat credit is required to be reversed. In the present case, there is a submission of the Ld. Counsel that they are not only writing off the inputs but as and when the written off quantity is found useable, the same is written back in the books of account. If at all there is any case of payment of cenvat credit it should be on the net quantity to written off after adjusting the written back quantity - the adjudicating authority must re-quantify the actual credit to be reversed on net written off quantity after adjusting the written back quantity. Appeal allowed by way of remand.
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