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2019 (5) TMI 40 - AT - Central ExciseCENVAT Credit - reversal of amount of credit of input service lying in his account - whether the appellant availing the benefit of SSI exemption is required to reverse the amount of credit of input service lying in his account on that day under Rule 11(2) or otherwise? - HELD THAT:- A plain reading of Rule 11(2) shows that the assessee who opts for benefit of SSI exemption is required to reverse the amount of credit of inputs lying in stock, lying in work-in-progress or used in the manufacture of final products lying in stock and thereafter if any balance is left, the same shall also lapse. Clearly, this rule did not cover the credit of input services or credit of CENVAT on capital goods. Therefore, the appellant is not required to reverse service tax credit availed by them on that day. There is no legal basis for the department to ask the appellant to reverse the CENVAT credit of input services - appeal allowed - decided in favor of appellant.
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