Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2021 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (8) TMI 170 - AT - Central ExciseLevy of penalty - Reversal of CENVAT Credit - goods sent for job work from factory during the months of May 2007 and June 2007, not received back into the factory for further manufacture, within the stipulated period of 180 days - demand alongwith interest and penalty - HELD THAT:- It is undisputed that the appellant has reversed the entire cenvat credit of ₹ 38,87,316/- prior to its utilization and prior to the issuance of show-cause notice. Further it is found that as soon as the audit raised the objection, the appellant who is a Public Sector Undertaking has reversed the cenvat credit prior to its utilization. This issue is no more res integra and has been settled by the Karnataka High Court in the case of COMMISSIONER OF CENTRAL EXCISE & SERVICE TAX LARGE TAXPAYER UNIT, BANGALORE VERSUS M/S BILL FORGE PVT LTD, BANGALORE [2011 (4) TMI 969 - KARNATAKA HIGH COURT] where it was held that Once the entry was reversed, it is as if that the Cenvat credit was not available. Appeal allowed - decided in favor of appellant.
|