2018 (11) TMI 490

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... CENVAT credit account - Held that:- It is seen from the records that there is no dispute on the duty liability discharged on the procurement of ‘speciality polymers’ and even if such procured inputs, capable of being utilised in manufacturing process, were to be cleared as such, the law mandates reversal of CENVAT credit availed at the time of receipt; the discharge of duty liability on the value .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... al on payment of appropriate duties of central excise totalling ₹ 2,31,44,585 between 2004-05 and 2008-09. In this order-in-original no. 30/BR- 30/Th-I/2010 dated 26 th May 2010, Commissioner of Central Excise, Thane-I had imposed penalty of like amount which is also sought to be set-aside. 2. We have heard Learned Counsel for appellant and Learned Authorised Representative. It would app .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rom the records that there is no dispute on the duty liability discharged on the procurement of speciality polymers and even if such procured inputs, capable of being utilised in manufacturing process, were to be cleared as such, the law mandates reversal of CENVAT credit availed at the time of receipt; the discharge of duty liability on the value-added clearance of speciality polymers is not .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... leared as such. In that event, as per Rule 3(5) of Cenvat Credit Rules, 2004 the appellants are required to pay duty equal to the credit taken thereon and the appellants have paid duty more than the credit availed. 11. The learned Advocate also relied on several case laws, wherein it was held that when duty paid at the time of clearance equal to or higher than the credit availed, the same is .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... t the duty paid by the appellants has been accepted by the department which is admittedly more than the CENVAT credit availed by the appellants. Therefore, following the various judicial pronouncements as discussed herein above, we hold that the appellants are not required to reverse the credit. Accordingly, the appeals are allowed with consequential relief. and other decision that have foll .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X