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2018 (5) TMI 464 - AT - Central ExciseCENVAT credit - inputs - Plates, Shape & Section, MS Angles, GP Sheet, HR Coil, CR step, MS Channels, Paints, Welding Electrodes etc. - Held that: - the appellants had led evidence before the Courts below that the items in question like Welding Electrodes, MS electrodes, MS plate, Shape and Section etc have been utilised for fabrication of mostly Capital Goods - the definition of inputs in Rule-2 (k) read with Explanation-2 provides– input includes goods used in the manufacture of capital goods which are further used in the factory of the manufacturer - credit allowed. Penalty - Held that: - Since, the Cenvat credit on items in question is admissible neither the penalty on appellant company nor on Managing Director is maintainable. Appeal allowed - decided in favor of appellant.
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