Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2013 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (11) TMI 23 - CESTAT NEW DELHIReversal of Cenvat Credit on inputs written off - Waiver of Pre-deposit of Duty and Interest – Held that:- The provision of Rule 3 (5) (B) require reversal of Cenvat credit in respect of raw materials which were written off, was introduced with effect from 01.05.2007 - as long as the inputs on which the credit has been availed, are within the factory but the same are written off from the records, the credit is not required to be reversed - the revenue has not alleged any clandestine removal of the cenvatable inputs - the applicant has a good prima facie case so as to dispense with the condition of pre-deposit of duty and interest - Penalty and recovery stayed during the pendency of the appeal – Stay granted.
|