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2021 (8) TMI 233 - AT - Service TaxRe-credit of Cenvat Credit alrady reversed (suo motu) - Storage and Warehousing services - storage of rice - rice is agricultural produce or not - agricultural produce after introduction of Negative List or not - Clause (d) of section 66D of Finance Act - HELD THAT:- When Notification No.4/2014 made the Storage and Warehousing Services of rice to be exempted services, the said service became taxable for the period 01.07.2012 to 16.02.2014. The appellants had been reversing the proportionate credit on the common input services availed by them. When the reversal/adjustment is made under Rule 6(3A), the time-limit as prescribed in the Cenvat Credit Rules, 2004 would apply. In the present case, the re-credit is an adjustment/correction of the excess reversal which was not required to be made by them. The appellants are not eligible to take suo motu re-credit of an amount of ₹ 20,83,773/-. So also, the allegation of the department that the credit ought to have been take before 30th of June of the succeeding year is without any basis in the facts of this case as it is not reversal of proportionate credit but only re-credit of the credit which was not required to be reversed. Appeal allowed - decided in favor of appellant.
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