9911796707
TMI Blog2025 (2) TMI 620X X X X Extracts X X X X X X X X Extracts X X X X ..... the appeal filed by the department has been rejected. 2. The Cross-Objection has been filed by M/s Synergy Steels Ltd., Alwar Respondent praying that the appeal may be dismissed. 3. The facts which led to the issue of the impugned order are that the respondent held central excise registration during the relevant period and it was paying central excise duty and also availing Cenvat credit on inputs and capital goods. The officers of CG&ST Audit Commissionerate, Jaipur conducted audit of the records of the respondent and observed that it had availed and utilized Cenvat credit on capital goods which were received in the month of July 2017 and August 2017 (after the CGST Act had come into force). As per the transitional provisions of the CGST ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... after 01.07.2017 or on the capital goods received during the months of April 2017 to June 2017. He further observed that the respondent had not utilized the allegedly wrongly availed credit as was evident from the fact that in TRAN-1. The respondent carried forward Cenvat credit to the tune of Rs. 4,64,70,985/- which was almost three times of the allegedly wrongly availed Cenvat credit. 5. Accordingly, the Additional Commissioner found that there was, at best a procedural lapse on the part of the respondent inasmuch as instead of obtaining the ITC by filing Table 7(b) of TRAN-1, the respondent took credit in their ER-1 return and transitioned it to ITC through Table 5(a) of TRAN-1. He also ascertained through letters from the Jurisdictiona ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ply to majority of the manufacturers, including the respondent. A provision has been made under the CGST Act to transition the Cenvat credit available in records as ITC under the CGST. The respondent had transitioned Cenvat credit of Rs. 4,64,70,985/- as input tax credit under the CGST. There is also a provision for taking input tax credit of duty paid on the goods received in the months of April, May, June 2017. In other words all the credit, which was lying in balance in the books of accounts as Cenvat credit or Cenvat credit which the respondent could have availed but for the introduction of CGST Act, could be transitioned ITC under CGST. 11. There is no dispute that the entire disputed Cenvat credit was admissible to the respondent as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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