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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 600 - CESTAT NEW DELHI] on the following issue: Issue: Whether ? Facts and background: JCT Limited ( the Assessee ), in their composite mill, manufactured cotton yarn from cotton and used the same within the factory for weaving of fabrics. In respect o .....

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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 their final product. But, the Department contended that the Assessee is not eligible for availing the benefit of the Exemption Notification even if the availed Cenvat credit is subsequently reversed. Therefore, the Adjudicating Authority confirmed the de .....

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