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M/s. Hindusthan National Glass & Industries Ltd Versus CCE, Guntur

2016 (11) TMI 931 - CESTAT HYDERABAD

Interest and penalty for taking the Cenvat credit wrongly - suo moto reversal of credit before utilisation of the same - whether the appellants are liable to pay interest on the said credit which was reversed? - Held that: - it is seen that the appellant has reversed an amount of ₹ 6,57,169/which pertains to credit availed on capital goods/ventilation systems. The invoices produced by the appellant also evidence that these goods are classified under Chapter 84. In such circumstances, I am .....

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Vs. Bill Forge pvt. Ltd. [2011 (4) TMI 969 - KARNATAKA HIGH COURT]. In view thereof, I hold that the appellants are not liable to pay interest as well as the penalty which is confirmed in the impugned order. Therefore I set aside the impugned order to the extent of demand of interest and imposition of penalty - The appeal is partly allowed as above and partly remanded for the limited purpose of adjudicating the issue whether the appellants are elgibile for the credit of ₹ 6,57,169/- a .....

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y of CENVAT credit on inputs and capital goods. During the period from October 201 1 to March 2012, the appellants availed CENVAT credit on various capital goods to the tune of ₹ 16,66,97,781/- bases on 928 number of duty/tax paid documents. The appellant suo moto reversed credit of an amount of ₹ 96,88,257/- taken on 332 invoices. Though the credit was reversed before utilization of the same, the Department entertained a view that the appellants are liable to pay interest on the sai .....

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nd of interest and imposition of penalty, appellants have preferred the present appeal. 3. On behalf of the appellant, the learned counsel Shri Karan Talwar submitted that the issue whether appellant is liable to pay interest on the credit which was wrongly taken but suo moto reversed prior to utilization is well settled by the decisions of various Benches of the Tribunal and High Courts viz. CCE Vs. Bill Forge pvt. Ltd. [2012(26) STR 204], CCE vs. Strategic Engineering Pvt. Ltd. [2014(310) ELT .....

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ellants. That ventilation systems falling under Chapter 84 are eligible for credit under the category of capital goods. Therefore the appellant has reversed this credit by mistake. He submitted that this additional ground has been taken in the appeal filed by the appellant and pleaded that the same may be considered. 4. On behalf of the Department, the learned AR Shri P.S. Reddy submitted that the appellant is liable to pay interest as well as penalty for the credit wrongly availed. That the con .....

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