TMI Blog2017 (6) TMI 104X X X X Extracts X X X X X X X X Extracts X X X X ..... t on finished goods does not arise. The show cause notice has been issued by invoking extended period of limitation, the same is not maintainable. Demand set aside - appeal dismissed - decided against Revenue. - E/60274/2017 - A/60984/2017-SM[BR] - Dated:- 25-5-2017 - Mr. Ashok Jindal, Member (Judicial) Shri. Tarun Kumar, AR- for the appellant Ms. Nidhi Damija, CA Shri. Sumesh Kula, Advocate - for the respondent ORDER Per:Ashok Jindal The Revenue is in appeal against the impugned order wherein the ld. Commissioner (A) has held that as the inputs although written in their balance sheets but are still lying in their factory, therefore, the provisions of Rules 3(5) of the Cenvat Credit Rules, 2004, are no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y, - (i) Input, or (ii) Capital goods before being put to use, on which CENVAT credit has been taken is written off fully or partially or where any provision to write off fully or partially has been made in the books of account then the manufacturer or service provider, as the case may be, shall pay an amount equivalent to the CENVAT credit taken in respect of the said input or capital goods : Provided that if the said input or capital goods is subsequently used in the manufacture of final products or the provision of output services, the manufacturer or output service provider, as the case may be, shall be entitled to take the credit of the amount equivalent to the CENVAT credit paid earlier subject to the other provisions o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... these inputs and components later on, in the manufacture of final goods, in that circumstances, as per provision of Rule 3(5B) appellant is entitled to take Cenvat credit on these inputs and components, therefore, appellant is not required to reverse Cenvat credit on inputs/components for which they have made provision in the balance sheet. In these circumstances, Issue No.(iii) is answered in favour of the appellant. Issue No.(iv) Whether the subsequent show cause notice can be issued by invoking extended period of limitation or not I find that periodical show cause notices had been issued to the appellant as the first show cause notice for the period 2005-08 to 2008-09 was issued on 5-4-2010, therefore, both the show cause no ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
