Home Highlights May 2012 Year 2012 This

You may also like:

1. Cenvat credit on capital goods - No credit was availed in the initial (first) year - Whole of the credit (100% credit) was availed in the subsequent year - There is...

2. CENVAT Credit - Capital goods - 100% credit availed in the first year - Since the appellant has already compensated the Central Government by paying the interest, the...

3. Cenvat credit on capital goods - assessee availed 100% credit in the first year itself instead of 50% - in credit remained non utilized no prejudice caused to revenue - HC

4. Irregular availment of CENVAT Credit - 100% CENVAT credit on capital goods availed in the first year instead of 50% - they had sufficient balance in their CENVAT credit...

5. Though the assessee is entitled to cenvat credit of 50% on the capital goods in the year of receipt/ balance 50% is available to them in subsequent year. Availing credit...

6. Cenvat credit - Once the credit is availed, the use of such credit is governed by Rule 3 of the Cenvat Credit Rules, 2004. Sub-Rule (4) of the said Rule stipulates that...

7. Cenvat Credit - 100% EOU - Reversal of cenvat credit availed on inputs removed from the factory as such against CT-3 certificate - no reversal of credit is required - AT

8. There is no difference between the expression credit taken and the credit utilised for the purpose of recovery of wrongly availed credit Rule 14 of Cenvat Credit Rules,...

9. CENVAT Credit on "Steatite Ceramic" falling under CTH 6804 availed as 100% as inputs instead of 50% as capital goods during the first year - interest on 50% to be paid...

10. CENVAT Credit on capital goods - assessee has availed 100% credit in the first year itself instead of 50% - Levy of interest and penalty amounting to Rs. 5000/- confirmed. - AT

11. 100% EOU - refund of unutilized cenvat credit - Period of limitation of one year - the present appeal is under Rule 5 of the Cenvat Credit Rules, 2004 and hence the...

12. Deduction u/s 80IC - if substantial expansion is undertaken, say, in 8th year by an assessee such an assessee would be entitled to 100% deduction for the first five...

13. CENVAT Credit – DTA unit converted into 100% EOU – Conversion and Utilization of Credit – the assessee is entitled to avail the credit in balance as on the date of...

14. Demand of Interest - CENVAT Credit - reversed the CENVAT credit wrongly availed much before the issuance of the show-cause notice - the CENVAT credit account which shows...

15. 100% EOU - they were entitled to avail the Cenvat credit and since the Cenvat credit is also not recovered under Rule 14 of Cenvat Credit Rules and is available in...