9911796707
TMI Blog2011 (10) TMI 535X X X X Extracts X X X X X X X X Extracts X X X X ..... ent. ORDER Short point to be decided in this case is whether the appellants are required to reverse Cenvat credit of Rs. 5,53,466/- involved on the inputs and raw materials contained in the finished products destroyed due to fire. In this case a fire accident took place in the appellant's factory on 23-5-2008. Department was informed within 24 hours on 24-5-2008. On 25-5-2008 officers visited th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eal filed by the appellants, the ld. Commissioner (Appeals) passed the impugned order rejecting their appeal on 14-10-2009 against which they are in appeal. 2. The ld. Counsel on behalf of the appellants submitted that in this case the demand for Cenvat credit availed on the raw materials contained in the finished goods, has been confirmed and this is contrary to the provisions of Cenvat Cre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cted. It is not known whether any appeal has been filed against the same. Nevertheless a reading of sub-rule (5C) of Rule 3 of Cenvat Credit Rules, 2004 would show that when the demand of duty is ordered to be remitted under Rule 21 of Central Excise Rules, 2002, Cenvat credit is required to be reversed. In the absence of a remission order as submitted by the ld. Counsel, credit could not have bee ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
