2018 (6) TMI 877

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..... es that they have reversed the proportionate credit of tax relatable to the trading activity, thus, not having any legal obligation to pay 6% of the value of said service - when the proportionate credit relatable to exempted services/ goods stand reversed by assessee, the effect of the same would be, as if no credit was ever availed. In such a scenario, there would be no requirement on the part of .....

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..... ing activity, initiated proceedings against them for confirmation of 6% of the value of the said trading activity, in terms of provisions of Rule 6 (3)(i) of Cenvat Credit Rules. Proceedings resulted in passing of the impugned order, confirming the demand and imposing penalties. 3. It is seen that the appellants took a categorical stand before the lower authorities that they have reversed the p .....

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..... 018 (3) TMI 7 CESTAT Allahabad]; 4) M/s. Jai Balaji Industries Ltd. vs. CCE ST, Raipur [2016 (12) TMI 841-CESTAT, New Delhi]; and 5) JSW Jaigarh Port Ltd. vs. CCE, Kolhapur [2018 (2) TMI 137 CESTAT, Mumbai] 5. It stand held in all the decisions that when the proportionate credit relatable to exempted services/ goods stand reversed by assessee, the effect of the same woul .....

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