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Regarding CENVAT credit taken or utilized on the process cutting, slitting or printing of aluminium foils. - 24/2012 - Central Excise - Non Tariff |
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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3,
Notification No. 24/2012 - Central Excise (N. T.)
G.S.R. (E) . -In exercise of the powers conferred by section 5B of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby orders that where an assessee has paid duty of excise on the process of cutting, slitting and printing of aluminium foils (hereinafter referred to as final product), falling under heading 7607 of the First Schedule to the Central Excise Tariff Act, 1985 ( 5 of 1986), the CENVAT credit taken or utilised, of the duty or tax or cess paid on inputs, capital goods and input services used in the making of the said final product, shall not be required to be reversed, notwithstanding that the process of cutting, slitting and printing of aluminium foils have been held as not amounting to manufacture by the Central Excise and Service Tax Appellate Tribunal by its order in Appeal No. 3181 of 2010 in the case of M/s Printo India Graphics (P) Ltd. Vs CCE, Delhi and upheld by the Supreme Court in Civil Appeal No. 8533 of 2011, subject to the following conditions, namely:- (a) the said non-reversal shall be allowed only for the CENVAT credit taken upto the 15th of March, 2012. (b) the said non-reversal shall be allowed only when excise duty has been paid on removal of the said final product. (c) the said assessee shall not prefer a claim of refund of the excise duty paid by him on the said final product: Provided that the CENVAT credit, if any, taken by the buyer of the said final product, of the excise duty paid by the said assessee on the said final product made and cleared up to the 15th March, 2012 shall not be required to be reversed.
[F.No.4/2/2012-CX.1 Pt.]
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