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TMI Blog2015 (4) TMI 602X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of reversal of Cenvat Credit in respect of inputs used in manufacturing of such goods. - appellant has taken Cenvat Credit correctly and there is also no provision in the Cenvat Credit Rules to reverse proportionately Cenvat Credit on capital goods which was lost in fire or were not used. Therefore, I hold that the appellant is not required to reverse Cenvat Credit on capital goods. - appellant is not required to pay duty on finished goods and not required to reverse the Cenvat Credit on inputs contained in unfinished goods and semi-finished goods and not required to reverse the Cenvat Credit of capital goods - Decided in favour of assessee. - Appeal No. E/1128 & 1823/2011-Ex(SM) - Final Order Nos. 50375-50376/2015-EX(SM) - Dated:- 13- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .L.T. 336 (Tri-LB) . Therefore, they are entitled for remission of duty on finished goods. Consequently, they are not required to pay duty on finished goods lost in fire and also not required to reverse the Cenvat Credit on inputs contained in the finished goods. 4. For denial of remission of duty on semi finished goods / unfinished goods the Ld. Commissioner (A) relied on the decision of this Tribunal in the case of Deepak Tandon Vs. C.C.E. Bhubaneswar-2009 (126) E.L.T. 1079 (CESTAT), to say that claim of remission is not maintainable as goods are not marketable. He further submits that as per the decision in the case of Grasim Industries (Supra) the appellant cannot be directed to reverse the Cenvat Credit on inputs contained in sem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. Consequently, appellant is required to reverse the Cenvat Credit contained in semi-finished goods and unfinished goods, and; c) Whether the appellant is entitled to claim remission of duty on capital goods or not and consequently the appellant is required to reverse proportionate Cenvat Credit on capital goods or not. 8. To decide the first issue I find that same has come before the Larger Bench of this Tribunal in the case of Grasim Industries (Supra) wherein this Tribunal has observed in para 7 as under: Reading of rules under which remission is granted in respect of goods which were lost or destroyed by natural cause or by natural accident, does not provide any condition regarding reversal of credit taken in respect of input ..... X X X X Extracts X X X X X X X X Extracts X X X X
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