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Subsequent reversal of Cenvat credit initially availed but not utilized, tantamount to non-availment of Cenvat credit

Cenvat Credit - By: - Bimal jain - Dated:- 7-3-2015 - Dear Professional Colleague, We are sharing with you an important judgment of Hon ble CESTAT, New Delhi, in the case of JCT Limited Vs. CCE, Jallandhar and Ludhiana and vice-versa [2015 (2) TMI 60 .....

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f captive clearances of cotton yarn, the Assessee was availing full duty exemption under Notification No. 30/04-CE dated July 9, 2004 ( the Exemption Notification ). The goods covered by the Exemption Notification are fully exempt from Excise duty, i .....

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. However, subsequently on being pointed out by the Department, the Assessee reversed the said Cenvat credit. Further, there was no dispute that aforesaid Cenvat Credit of ₹ 4375/- was utilized by the Assessee for payment of duty on any of thei .....

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mand along with interest and penalty, by denying the exemption under the Exemption Notification and also allowed the cum duty benefit i.e., treating the sale price of the yarn as including the Excise duty. Thereafter, the Order of the Adjudicating Au .....

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