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2019 (7) TMI 1014 - AT - Central ExciseReversal of CENVAT credit - inputs/capital goods - M.S. Angles, M.S. Plates, Foundation bolts and Channels, etc., which were used in their factory - period January 2012 to January 2014 - credit was reversed but there was short reversal - HELD THAT:- As per the stand of the appellant, he has reversed CENVAT credit of ₹ 16,60,408/- in CENVAT account vide Entry 66 and 419 but as per the verification done by the Superintendent of Bijapur, the appellant has reversed only an amount of ₹ 16,55,919/- and balance of ₹ 10,329/- is yet to be paid by the appellant along with interest and penalty. Since there is discrepancy in the reversal of the CENVAT credit, the matter is remanded to the Original Authority for verification of the same. Interest and penalty - HELD THAT:- If on verification, it is found that the appellant has reversed less amount, then the appellant would be liable to pay the differential amount along with interest but if it is found that he has reversed more than what was required then he is not liable to pay any interest and the penalty because he has not utilized the CENVAT credit availed and reversed the same before the issuance of show-cause notice. Appeal allowed by way of remand.
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