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BEML Ltd Versus Commissioner of Central Excise, Customs and Service Tax Bangalore-I

2015 (10) TMI 108 - CESTAT BANGALORE

Demand of interest on reversal of cenvat credit - Reversal of CENVAT credit if goods are not returned from the Job worker within 180 days - Demand of interest and penalty - Held that:- Karnataka High Court [2011 (4) TMI 969 - KARNATAKA HIGH COURT] as well as Hon’ble Madras High Court [2014 (11) TMI 89 - MADRAS HIGH COURT] in the cases have considered the decision of Hon’ble Supreme Court made in the case of UOI Vs. Ind-Swift Laboratories Ltd. [2011 (2) TMI 6 - Supreme Court] and have come to the .....

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6-9-2015 - Shri Ashok K. Arya, Technical Member For the Petitioner : Ms. Preetha, Advocate For the Respondent : Shri Mohd. Yousuf, Addl. Commissioner(AR) ORDER Per : ASHOK K. ARYA Both the parties have been heard in detail. 2. The matter concerns the liability of the interest on the CENVAT credit taken for the inputs which had been sent for job work and were not returned within 180 days as per Rule 4(5)(a) of the CENVAT Credit Rules 2004 (the Rules for short). The appellant reversed the CENVAT c .....

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learned advocate Ms. Preetha appearing for the appellant mentions that there has been an amendment in the year 2015 in the Explanation II to Rule 4(7) whereby in place of the word sub-rule, the word rule has been substituted regarding the recoveries to be made under Rule 14 of the Rules. She further argues that therefore, the recovery under Rule 14 earlier to 2015 amendment could be made with reference to only sub-rule 7 of Rule 4 of the Rules using the provisions of Rule 14 of the Rules. 3. Th .....

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arned AR Shri Mohammed Yousuf has argued that interest and penalty are always recoverable both for the periods prior to the said amendment made in 2015 and also after the said amendment made in the Explanation to sub-rule 7 of Rule 4 of the Rules, wherever CENVAT credit has been wrongly taken or utilised by an assessee. The learned AR cites Hon ble Supreme Court s decision in the case of UOI Vs. Ind-Swift Laboratories Ltd. [2011(265) ELT 3 (SC)] wherein it was held that interest is recoverable w .....

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