9911796707
TMI Blog2015 (5) TMI 533X X X X Extracts X X X X X X X X Extracts X X X X ..... and have to reverse proportionate CENVAT credit proportionate to the trading turnover up to March 2011. The data given by the appellant for this period has been accepted and accordingly the appellants have calculated the proportionate credit payable as ₹ 9,26,481/- and balance payable is ₹ 6,09,728/- if the entire trading value is taken for the purpose of calculation. In our opinion, p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pugned order it has been held that appellant had taken and utilized CENVAT credit of ₹ 6,88,567/- during the period from October 2006 to March 2008. It has also been held that appellant was not eligible for CENVAT credit in respect of trading activity during the period from April 2009 to March 2011. The appellants have been required to reverse credit taken to the extent of 8%/6% of the value ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ourselves in agreement with this stand. 3. As regards the amount of more than ₹ 2.14 crores from April 2009 to March 2011, he submits that during the relevant period, the trading was not a service and he relies upon the decision in the case of Orion Appliances Vs CST ST/120/09 A/465/2010-WZB/AHD/2010. He also submits that it has been held that the insertion of the explanation to Rule 2 ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n for the purpose of calculation. In our opinion, prima facie the entire trading value has to be taken. In view of the above discussion, the appellant is directed to deposit the interest amount on the CENVAT credit irregularly availed during the period up to March 2008 and balance of proportionate credit and interest for the period from April 2008 to March 2011 within eight weeks and report compli ..... X X X X Extracts X X X X X X X X Extracts X X X X
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