2012 (4) TMI 311

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..... This is an application filed by M/s Beico Industries Pvt. Ltd. (hereinafter referred to as "the applicant") for waiver of pre-deposit and stay recovery of amount of Rs.1,94,501/- and penalty of Rs.10,000/- as confirmed by the Commissioner of Central Excise (Appeals). 2. The issue involved in the case is that applicant has distributed CENVAT credit in respect of input services prior to registrat .....

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..... has reduced the penalty to Rs.10,000/- and CENVAT credit amount was confirmed in appeal. 3. Learned Counsel appearing for the appellant submits that manner of distribution of credit by "Input Service Distributor" has been described in Rule 7 of Cenvat Credit Rules. There is no provision in this Rule barring them for availment for CENVAT credit in respect of invoices issued prior to date of regis .....

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..... e "Input Service Distributor" registration and thereafter, only input services can be distributed. He, therefore, submitted that the CENVAT credit has rightly been denied by the lower authority. 5. After hearing both the sides, I find that under the rule 7 of CENVAT credit rules there is no bar denying the credit in respect of the invoices of the period prior to date of the registration. I find t .....

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