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2019 (7) TMI 1257 - AT - Central ExciseNon reversal of CENVAT credit - Benefit of N/N. 01/2011–CE dated 01.03.2011 and 12/2012–CE dated 17.03.2012 (Serial No. 128) - CENVAT Credit on inputs not available - HELD THAT:- It is an admitted and apparent fact on record that for availing the benefit of Notification No. 01/2011–CE dated 01.03.2011 and under Notification No. 12/2012–CE dated 17.03.2012 (Serial No. 128), the assessee is not allowed to avail the cenvat credit on the capital goods. Admittedly, the appellant has availed the cenvat credit on capital goods and admittedly the final product of appellant is only “Single Super Phosphate”, a fertilizer (the exempted good). Since it is a statutory mandate it was incumbent for the appellant to reverse the cenvat credit as was prior availed on the capital goods used in manufacture of exempted goods on which the benefit of lesser duty vide the impugned Notification was subsequently availed. Admittedly, there is no such book entry to reverse the remaining amount as well. Admittedly, no subsequent return has been filed by the appellant to reverse the balance amount of the cenvat credit which as per him is still lying unutilised. Penalty - HELD THAT:- The question of imposition of penalty also does not arise when admittedly the amount of cenvat credit availed is lying unutilised till date in the assessee’s/ appellant’s account. Appeal allowed in part.
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