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TMI Blog2017 (11) TMI 1469X X X X Extracts X X X X X X X X Extracts X X X X ..... d against the appellant. Identical issue decided in the case of COMMISSIONER OF CENTRAL EXCISE & SERVICE TAX LARGE TAXPAYER UNIT, BANGALORE Versus M/s BILL FORGE PVT LTD, BANGALORE [2011 (4) TMI 969 - KARNATAKA HIGH COURT], where it was held that once the entry was reversed, it is as if that the Cenvat credit was not available. Appeal allowed - decided in favor of appellant. - Excise Appeal No. E/51312/2017 [SM] - Final Order No. 57864/2017 - Dated:- 13-11-2017 - S. K. Mohanty, Member ( Judicial ) For the Appellant : Mr.Yogesh Mittal, AR For the Respondent : Mr.K. Poddar, D.R. ORDER Per : S. K. Mohanty Brief facts of the case are that the appellant is engaged in the manufacture of contact wire and Centenary w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppearing for the Revenue reiterates the findings recorded in the impugned order and further submits that since the credit was taken by the appellant, which was subsequently reversed, the appellant is liable to pay interest and penalty for such irregular availment of Cenvat Credit. 4. Heard both sides and perused the case records. 5. It is an admitted fact on record that the irregularly availed Cenvat Credit was reversed by the appellant upon detection of mistake by the Audit Wing of the Central Excise Department. I also find that the wrongly availed Cenvat Credit of ₹ 21,44,480/-, had never been utilized by the appellant for payment of duty on the finished goods removed by it from the factory. Since the appellant had all along m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ilized wrongly . Further the said provision makes it clear that the interest shall be recovered in terms of Section 11A and 11B of the Act. 20. From the aforesaid discussion what emerges is that the credit of excise duty in the register maintained for the said purpose is only a book entry. It might be utilised later for payment of excise duty on the excisable product. It is entitled to use the credit at any time thereafter when making payment of excise duty on the excisable product. It matures when the excisable product is received from the factory and the stage for payment of excise duty is reached. Actually, the credit is taken, at the time of the removal of the excisable product. It is in the nature of a set off or an adjustment. T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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