2015 (10) TMI 644 - HC - Central Excise

Denial of CENVAT Credit - Held that - In the case of Commissioner of Central Excise v. M/s. Grand Card Industries and Ors. 2014 (4) TMI 258 - DELHI HIGH COURT , this Court held that the assessee - an SSI unit, had the option to either avail the exemption in terms of applicable notification, or to pay duty on the final product by taking Modvat credit in terms of the Central Excise Rules, 1944. In the present case, the Tribunal had held to the contrary. - In view of the decision in M/s Grand Card Industries and Ors. (supra), the question of law are answered against the Revenue and in favour of the assessee. - Decided in favour of assessee.

Summary

The Delhi High Court restored a writ petition to its original number. The court ruled in favor of the assessee, stating that an SSI unit has the option to avail exemption or pay duty and take Modvat credit. The reference was disposed of accordingly.