TMI Blog2018 (3) TMI 410X X X X Extracts X X X X X X X X Extracts X X X X ..... activity as per the provisions of Finance Act also, the activity of trading is termed as an exempted service but there is no trading service - appellant has taken cenvat credit and not claimed the refund thereof. Therefore, it would be only a revenue neutral situation, the appellant is not required to pay 6% of the value of trading activity. Extended period of limitation - Held that: - the goo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ivity of exporting the same by procuring the same from the open market. The Revenue is of the view that as appellant is engaged in the activity of trading of goods as well as manufacturing, therefore, for the input services received from trading activity are not entitled to avail cenvat credit as they are not maintaining separate account in terms of Rules 6 (3) of Cenvat Credit Rules, 2004. Theref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e entitled to claim refund of the cenvat credit reversed by them as the same has been used for export of goods. Therefore, it is a revenue neutral situation and in that circumstances no demand is sustainable against the appellant. He also submits that as export of the said goods was in the knowledge of the Revenue, therefore extended period of limitation is also not invokable. 4. On the other h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r are erroneous. Moreover, as he has accepted the export of goods, whatever service tax is paid by the assessee on the services availed for export is entitled for refund. In this case, appellant has taken cenvat credit and not claimed the refund thereof. Therefore, it would be only a revenue neutral situation, the appellant is not required to pay 6% of the value of trading activity. 7. Further ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
