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2021 (4) TMI 1184 - AT - Central ExciseReversal of CENVAT Credit - goods are cleared to National Electricals Equipments Corporation, Jaipur who in turn uses these goods for manufacture of goods to be exported - exempt goods as per N/N. 43/2001-C.E. (N.T.) dated 26/06/2001 or not - HELD THAT:- Similar issues has been examines in various decisions of Tribunal and higher forums. In the case of COMMISSIONER OF CENTRAL EXCISE, LUDHIANA VERSUS AARTI STEELS LTD. [2004 (2) TMI 397 - CESTAT, NEW DELHI], alloy and non alloy steel wires cleared under CT-2 certificate to cycle tyre manufacturers who exported goods at Nil rate of duty where the MODVAT credit was allowed - The said decision of Tribunal was upheld by Hon’ble Supreme Court reported at COMMISSIONER VERSUS AARTI STEELS LTD. [2004 (1) TMI 725 - SC ORDER]. The clearances made by appellant under notification 43/2001-CE (N.T.) on the strength of Annexure 45 cannot be held as exempted clearances and therefore, no reversal of Cenvat Credit is necessary - appeal allowed - decided in favor of appellant.
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