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TMI Blog2019 (11) TMI 288X X X X Extracts X X X X X X X X Extracts X X X X ..... ts lying as such or as contained in the semi finished goods - HELD THAT:- Reliance stands placed on the Tribunal s Order in the case of VFC Industries Pvt. Ltd. [ 2016 (9) TMI 1020 - CESTAT AHMEDABAD ] by Commissioner (Appeals), which has clearly held that eligibility criteria of using inputs in or in relation to manufacture of Final Product is not satisfied as the inputs were lying in stock and w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t circuit in their factory, a fire accident took place on 21.08.2014 resulting in destruction of final product as also semi finished goods and raw materials. The said fact was intimated to their jurisdictional Central Excise authorities under the cover of their letter dated 21.08.2014 indicating the extent of distruction. Subsequently, remission application seeking remission of duty to the extent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... extent of ₹ 11,85,799/-. However, in respect of the credit of ₹ 13,54,474/- availed on inputs lying in stock and destroyed in fire, he uphold the same by observing as under:- Now, I will examine whether the appellant is required to reverse the Cenvat credit amounting to ₹ 13,54,474/- availed on inputs lying in stock and destroyed in fire. Inputs which were lying in the appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... back or reversed by the appellant. In the case of VFC Industries Pvt. Ltd. Vs CCE ST, Vadodara-II, [2017 (352) ELT 507- the CESTAT Ahmedabad] vide final order No.A/10952/2016-wzb/ahd dated 21.09.2016 held that the credit taken on inputs lying in stock and destroyed in fire before being put to use for the manufacture of final products need to be reversed or paid back by the appellant since the said ..... X X X X Extracts X X X X X X X X Extracts X X X X
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