Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

M/s Becton Dickinson India Pvt Ltd Versus Commissioner of Central Excise, Delhi-III

CENVAT Credit - Whether Cenvat Credit lying in their Cenvat Credit account lapse as per Rule 571-1(7) ibid on 01.03.2000 that when their product became exempted under notification no. 7/2000 dated 01.03.2000 or not - Held that:- On plain reading of the said Rule if goods are exempted under notification based on value of clearance in financial year, in that case as per Rule 57H(7) the Cenvat Credit lying in their Cenvat Credit account shall lapse. But in the case in hand, the final product of the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

2015 - Ashok Jindal, Member (J) And B Ravichandran, Member (T) For the Appellant : Shri Ravindra Narain, Adv For the Respondent : Shri M S Negi, DR ORDER Per Ashok Jindal The appellant is in appeal. 2. This is the second round of litigation. In the earlier round of litigation appeal of the appellant was allowed by this Tribunal. The order of this Tribunal which was challenged by Revenue before the Hon'ble High Court of Punjab and Haryana and the Hon'ble High Court has remanded the matter .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

fication no. 07/2000 dated 01/03/2000. As appellant was having accumulated credit of duty in their Cenvat Credit account on the said date they did not reverse the same. However, the appellant reversed the credit to the extent of about 82 lakhs which was pertaining to input lying in stock either as such or in process as contained in the final product. This reversal is not in dispute. But there was a balance accumulated credit of ₹ 5,27,97,614/- hence the said credit was not reversed and rem .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

appeal before this Tribunal and this Tribunal relying on the decision of CCE Rajkot Vs. Ashok Iron& Steel Fabricators-2002 (140) ELT 277 (Tri-LB) in the case of HMT Vs. CCE Panchkuta-2008 (232) ELT 217 (Tri-LB), in the case of Ranbaxy Laboratories Ltd. Vs. CCE Chandigarh-2012 (279) ELT 194 (HP) allowed the credit and set aside the demand. The said order was challenged by the Revenue before the Hon'ble High Court of Punjab & Haryana who set aside the order of this Tribunal and remand .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the facts of this case. Therefore, the balance amount of credit lying in their Cenvat Credit account would not lapse. He further submits that their final product 'disposal syringe' was classified under CTH 9018.00 and the said product was wholly exempted from payment of duty under notification no. 07/2000 ibid and the said notification is not based on value of quantity and clearance in the financial order. Therefore, he prayed that impugned order is to be set aside. 5. On the other hand .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

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

Go to Mobile Version