Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2018 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (11) TMI 348 - AT - Central ExciseReversal of CENVAT Credit - credit attributable on the value of written off inputs, spares and capital goods in their accounts for the financial year 2009-10 - case of appellant is that inventory was partially written off during the year 2009-10 and the obligation to reverse CENVAT credit in case of partial written off of inputs and capital goods came into existence w.e.f 1.3.2011 and not prior to the said date. Held that:- This provision to reverse the proportionate CENVAT credit on partially write off came into existence from 1.3.2011 whereas the period involved in the present case is 2009-10. The inventory against which the partial write off was made was available with the appellant and there was no physical removal of the goods. In reply to the show-cause notice also, the appellant has given a detailed chart showing that there was partial write off - The amendment w.e.f 1.3.2011 was not retrospective and it was prospective. Credit need not be reversed - appeal allowed - decided in favor of appellant.
|