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M/s Nitcon Valve Inds. Ltd. Versus Commissioner of Central Excise, Mumbai-II

2016 (1) TMI 695 - CESTAT MUMBAI

Reversal of CENVAT credit - calculation of interest - amount of CENVAT credit attributable to inputs used in the exempted goods - Held that:- The appellant has already reversed ₹ 1,90,160.91 which is attributable to the inputs used for manufact .....

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garding the procedure rule followed or opt to reverse the CENVAT Credit attributable to CENVAT Credit. This Tribunal in the case of Mercedes Benz India Ltd. [2015 (8) TMI 24 - CESTAT MUMBAI] has held that these are procedures and non-compliance can b .....

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he appellant to that extent and hold that the lower authority shall work out the interest payable on amount of ₹ 1,90,160.91 and adjust the amount of CENVAT Credit to the already paid of ₹ 2,43,600/- and interest thereof, from the deposit .....

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ppeal No. E/1789/10 - Dated:- 16-11-2015 - M. V. Ravindran, Member (J) For the Appellant : Shri Rajesh Ostwal, Adv For the Respondent : Shri S V Nari, Supdt. (AR) ORDER Per M V Ravindran This appeal is directed against Order-in-Appeal No. YDB/396/M-I .....

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of exempted goods cleared by the appellant under invoice dated 16.4.2008 claiming the exemption under Notification No. 10/97 as amended by 16/07. The appellant availed CENVAT Credit on the duty paid inputs which are common to dutiable as well as exe .....

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indicate that the amount of CENVAT Credit is ₹ 1,90,160.91. It is his submission that the appellant has already deposited an amount of ₹ 2,43,600/- when the stay petition was heard. Hence, that amount can be considered as an amount of CE .....

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in the exempted goods. 4. Learned AR reiterates the findings of the lower authorities. 5. On perusal of the records and certificate which was produced before me today, I find that the appellant has already reversed ₹ 1,90,160.91 which is attrib .....

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he benefit provisions of Rule 6(3), regarding the procedure rule followed or opt to reverse the CENVAT Credit attributable to CENVAT Credit. This Tribunal in the case of Mercedes Benz India Ltd. - 2015-TIOL-1550-CESTAT-MUM has held that these are pro .....

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