Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2016 (12) TMI 10 - CESTAT MUMBAI

2016 (12) TMI 10 - CESTAT MUMBAI - TMI - Eligibility of Notification No.203/92-Cus dated 19.05.92 for import of goods under Value Based Advance Licencing Scheme - availing of MODVAT credit - Held that: - though initially MODVAT credit was availed but subsequently reversed and interest was also paid and a certificate was produced before the Commissioner (Appeals). The Learned Commissioner, in spite of submission of proof of reversal of MODVAT credit and payment of interest, denied the exemption. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

supposed to go into the issue which is not arising from show-cause notice and adjudication order. There is no dispute that the appellant reversed MODVAT credit and paid the interest. In our considered view with these payments, the condition V(A) of notification No.203/92-Cus has been complied with. Therefore both the authorities are wrong in confirming the demand - appeal allowed - decided in favor of appellant. - C/57/05-Mum - A/93551/16/CB - Dated:- 1-7-2016 - Shri Ramesh Nair, Member (Judicia .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e notification No.203/92-Cus, accordingly demand of duty, interest and penalty were proposed. The appellant in their defence, submitted that they reversed MODVAT credit for which they produced a certificate from the jurisdictional superintendent. However the adjudicating authority confirmed the charges proposed in the show cause notice on the ground that as per amnesty scheme in terms or CBEC Circular No.285/1/97-CX. 10.01.97 not only the MODVAT to be reversed but required to deposit the interes .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| 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