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2018 (11) TMI 974 - HC - Central ExciseDisallowance of CENVAT Credit wrongly availed - “one to one correlation” between inputs and final product - usage of stock on “first in first out” basis - Held that:- It is required to be noted that as such on scrutiny of the month wise account for the year 201011 the stock of the inputs declared by the assessee and considering the material on record, it is observed that stock of inputs declared as on 14.3.2011 did not tally. Therefore, the on the stocks of inputs which did not tally, the authority is justified in rejecting the claim of the CENVAT Tax Credit. There cannot be any dispute that manufacturer shall be entitled to the CENVAT Tax Credit on the stock of inputs. The authorities below have not committed any error in rejecting the CENVAT Tax Credit - appeal dismissed - decided against appellant.
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