2018 (3) TMI 482

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..... s is written off or provisions made for such in the books of accounts - In the instant dispute, the reversal was made by the appellant and hence there is no call to invoke rule 14 of CCR 2004 - Consequently there is no scope for invoking rule 15 of CCR 2004 - appeal dismissed - decided against Revenue. - E/87055/17 - A/92152/17 - Dated:- 6-10-2017 - Mr. CJ Mathew, Member (Technical) Shri K .....

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..... otor vehicle parts, had taken CENVAT credit of various inputs and had, for 2011 and 2012, made provision for writing off of inventory to the extent of ₹ 1,17,90,102/- and ₹ 2,53,56,036/- respectively. The corresponding proportionate reversal of CENVAT credit taken on these inputs was not reflected in the CENVAT credit account but which, upon being pointed out by audit, was made good be .....

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..... a perusal of rule 3(5B) of CENVAT Credit Rules, 2004 it is unambiguously clear that the reversal of CENVAT credit is mandatory whenever the value of inputs is written off or provisions made for such in the books of accounts. Prior to 8 th January 2014 the said Rules contained an explanation from which it can be inferred that the onus for reversal of CENVAT credit rests with the manufacturer and, .....

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