2018 (2) TMI 613 - AT - Central Excise

Re-credit of duty, reversed earlier - whether the Appellant-Assessee could avail suo motu re-credit of the duty initially paid/reversed in their books of accounts, after a period of time? - Held that - In similar circumstances, a Division Bench of this Tribunal in the case of Ashapura Volclay Ltd and others Vs. C.C., Jamnagar 2017 (6) TMI 659 - CESTAT - Ahmedabad following the principle laid down by the Larger Bench, disposed of the matter, with the liberty to approach the Tribunal after disposal of the cases pending before the higher forum - appeal disposed off.

Summary

Issues Involved:
Whether the Appellant-Assessee could avail suo motu re-credit of the duty initially paid/reversed in their books of accounts after a period of time.

Analysis:
The main issue in the present appeal before the Appellate Tribunal CESTAT Ahmedabad was whether the Appellant-Assessee could avail suo motu re-credit of the duty initially paid/reversed in their books of accounts after a certain period. The Advocate for the Assessee referred to a previous order of the Tribunal in Garden Silk Mills Ltd. Vs. C.C.E. & S.T., Surat, which was also being challenged before the Hon'ble Gujarat High Court. The matter was last listed for final hearing on 15.11.2017. Both parties agreed that it would not be appropriate to decide the issue while the matter was pending before the High Court. In a similar situation, a Division Bench of the Tribunal in the case of Ashapura Volclay Ltd and others Vs. C.C., Jamnagar, disposed of the matter with the liberty to approach the Tribunal after the higher forum's decision. Following this precedent, the present appeals were also disposed of with the liberty for both parties to approach the Tribunal after the verdict of the Hon'ble High Court in the pending appeal against the Division Bench judgment. It was clarified that no recovery or refund would be processed during this period. The appeal was thus disposed of accordingly.