Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

M/s Intas Pharmaceuticals Ltd Versus Commissioner, Central Excise & Service Tax, Ahmedabad-II

2015 (9) TMI 1021 - CESTAT AHMEDABAD

Reversal of cenvat credit - removal of capital goods after use - removal as waste / scrap or not - whether Appellant is entitled to refund of the duty paid at the time of clearance as wrongly reversal of credit - Held that:- First Appellate Authority has rejected the claim of the Appellant on the grounds that the capital goods were cleared as waste and scrap on which appropriate amount equal to the duty leviable on transaction value of such waste and scrap was correctly paid as per Rule 3(5A) of .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

not under Rule 3(5A) of CENVAT Credit Rules, 2004. Following the provisions contained in Rule 3(5), after 10 years of use of the capital goods, the amount of credit required to be reversed becomes zero. Accordingly, it is held that the Appellant was not required to reverse CENVAT Credit taken with respect to the capital goods when removed from the factory as capital goods and was not cleared as waste and scrap of capital goods - Decided in favour of assessee. - Appeal No.E/10788/2013-SM - Order .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e from their CENVAT credit account. 2. Shri Anand Nainawati (Advocate) appearing on behalf of the Appellant argued that the First Appellate Authority had rejected their claim on the ground that the Appellant has cleared waste and scrap of capital goods and that according to Rule 3(5A) of CENVAT Credit Rules, 2004, an amount equivalent to the duty leviable on the transaction value of waste and scrap was required to be paid. It was the case of learned Advocate that the clearances were made as comp .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

r from the date of taking CENVAT Credit. That as per the Page 67 of the appeal memorandum, the CENVAT Credit was taken on 16.04.1997, the machinery was sold on 16.08.2008. That following the reduction method as per the second proviso to Rule 3(5) of CENVAT Credit Rules, 2004, credit required to be reversed becomes zero on 25.11.2006 much before the date of sale. It was thus, his case that no credit with respect to old/used machineries was required to be reversed on the date of clearance of the u .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version