TMI Blog2009 (12) TMI 407X X X X Extracts X X X X X X X X Extracts X X X X ..... ale. Held that- trading in sale of parts undertaken. Cenvat Credit amount utilized during impugned period, reserved. Pre-deposit of balance amount waived. - ST/567/2009 - 1685/2009 - Dated:- 4-12-2009 - S/Shri M.V. Ravindran, Member (J) and P. Karthikeyan, Member (T) REPRESENTED BY: S/Shri N, Venkataraman and K. Krishnamurthy, Advocates, for the Appellant. Ms. Joy Kumari Chander, JCDR, for the Respondent. [Order per: M.V. Ravindran, Member (J)]. - This stay petition is directed against waiver of pre-deposit of the following amounts:- Service Tax of Rs. 4,83,65,919/- Penalty of Rs. 4,84,00,000/- 2. The relevant facts that arise for consideration are the applicants have centralized service tax registration for provid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ri N. Venkataraman, Sr. counsel along with Shri K. Krishna Murthy advocate appeared for the applicant and submit that the entire adjudication order has proceeded on a wrong premise. He would submit that the amount of cenvat credit taken on the common inputs attributable to the services of sale of parts of gas turbines has been already reversed by the applicant on 19.2.2009 and as such there is need for any confirmation of the demand as has been adjudged by the adjudicating authority. He would submit that this issue is now squarely covered by the decision of the larger bench in the case of Nicolas Piramal India Ltd. vs CCE 2008 (89) RLT 566 (Tri-LB). He would also submit that the decision of this very bench in the case of Foods, Fats and Fer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat it is services then, the question will definitely arise. 6. On a careful consideration of the clause (E) of Rule 2 of Cenvat credit rules 2004, we find that the exempted services as mentioned therein would cover only the service which are notified and prima facie cannot be interpreted to say that the services on which no service tax is leviable under Section 66 of the Finance Act will also be covered in order to interpret the provisions of Rule 6 (3) (c) of the cenvat credit rules. Be that as it may, it is undisputed that the applicant is trading in the sale of parts relating to gas turbines. Further we also find that the applicant has reversed an amount of Rs.19,32,037/- on 19.02.2009 (in abundant precaution as submitted by learned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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