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2016 (3) TMI 855 - CESTAT MUMBAI

2016 (3) TMI 855 - CESTAT MUMBAI - TMI - Demand of Service tax at the rate of 6%/8% of the value of exempted goods - Rule 6(3)(i) of Cenvat Credit Rules, 2004 - Held that:- the appellant reversed the entire credit on the common input service along with interest following the option available under Rule 6(3)(ii) of the Cenvat Credit Rules. As per Sub-Rule (3A) of Rule 6(3), the Cenvat Credit required to be reversed is as per the formula prescribed. Here, as the appellant have reversed the entire .....

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s appeal is directed against the Order-in-Appeal No. AV(195)187/2014 dated 08/09/2014 passed by the Commissioner of Central Excise & Customs (Appeals), wherein Ld. Commissioner upholding the Order-in-Original No. 04/ST/ADC/2014 dt. 23.4.2014 rejected the appeal filed by the appellant. 2. The fact of the case is that the appellant is a Co-operative Bank providing services of Banking and other Financial Services . They are availing Cenvat Credit under Cenvat Credit Rules. Show cause notice was .....

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was adjudicated wherein the charge made in the show cause notice was confirmed. Being aggrieved by the Order-in-Original dt. 23.4.2014, the appellant filed appeal before the Commissioner (Appeals), which was rejected, therefore the appellant is before me. 3. At the outset, Shri Nimesh Mehta, Ld. Counsel for the appellant submits that under Rule 6(3) options are available for the assessee either to reverse the proportionate credit attributed to the exempted services in terms of Rule 6(3)(ii) or .....

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sed under Rule 6(3)(i) is not sustainable. He submits that lower authority has solely decided the demand on the basis of Hon'ble Bombay High Court judgment in the case of Commissioner of Central excise Thane - I vs. Nicholas Piramal (India) Ltd. 2009 (244) ELT 321(Bom.). He submits that the judgment of Nicholas Piramal (India) Ltd. (supra) is related to the period prior to 1.4.2008, during that period the option for the proportionate reversal of Cenvat Credit was not available, which comes i .....

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e Tax, Aurangabad - 2014-TIOL-929-CESTAT-MUM (iv) Preeti Logistics Ltd. vs. Commissioner of Central Excise, Raigad - 2014-TIOL-854-CESTAT-MUM 4. On the other hand, Shri B. Kumar Iyer, Ld. Supdt. (A.R.) appearing on behalf of the Revenue reiterates the findings of the impugned order. He submits that the appellant have not availed the option of reversal of proportionate credit, therefore in the absence of that the department has correctly applied Rule 6(3)(i) and confirmed the demand equal to 6%/8 .....

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