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Finished goods burnt by fire- reg

Central Excise - Started By: - vinay wakde - Dated:- 13-10-2015 Last Replied Date:- 14-10-2015 - We are manufacturer finished goods namely Direct Reduced Iron (DRI) i.e. Sponge Iron (CH No. 7203 10 00). Recently, there was fire in our finished goods stock yard where the DRI was stored. We have submitted an application for remission of duty under Rule 21 to the jurisdictional Central Excise authorities. We have now decided to recycle/consume the said burnt material with our raw material in propor .....

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epartment will not remit the duty unless or until cenvat credit involved on the inputs contained in finished goods is reversed in full as per Rule 3 (5C) of the Cenvat Credit Rules as amended. On this very issue, there is judgement of Hon'ble Supreme Court in the case of Gangeshwar Ltd. Vs.Commissioner reported as -2015(322) ELT.A 239/SC = 2015 (10) TMI 350 - SUPREME COURT wherein the remission of duty was denied on the ground that the appellant failed to produce evidence regarding what step .....

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