Home Case Index All Cases Central Excise Central Excise + HC Central Excise - 2017 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (8) TMI 469 - HC - Central ExciseReversal of CENVAT credit - non-maintenance of separate records for taxable and exempt activity - trading activity - effect of amendment, retrospective or prospective? - Held that: - The provision for payment of the aforesaid amount in view of not maintaining separate books of accounts was enforced vide Notification No.13 of 2011 dated 31st Mrach, 2011 w.e.f. 1st April, 2011 as is evident on the plain reading of the said notification. The subsequent Notification dated 20th June, 2012 enforced w.e.f. 1st July, 2012 is only a repetition of the above amended Rule 6 in a different form and therefore the provision for payment of 6% of the value of the goods on the difference of sale and purchase price of the goods traded or 10% of the cost of the goods sold, whichever is more, remained in existence w.e.f. 1st April, 2011 - the Adjudicating Authority or the Commissioner (Appeals) were not right in holding that the said provision had come into effect from 1st July, 2012 and thus, disallowing the benefit thereunder to the respondent - appeal dismissed - decided against Revenue.
|