9911796707
TMI Blog2008 (11) TMI 232X X X X Extracts X X X X X X X X Extracts X X X X ..... ffered by it. There is nothing in the Rule which supports the finding that the final products received back by the assessee should be continued to be treated as input for any purpose after the credit of duty paid was availed. As the Revenue has no case that the appellants had not reversed credit relatable to inputs in stock and at various stages of manufacture including the finished goods, the imp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... versed CENVAT credit relatable to inputs in stock, inputs contained in work-in-progress and the finished products as per the provisions of Rule 6 of the CENVAT Credit Rules 2002. Whereas the credit taken on the returned goods was Rs. 63,380/-, the appellants reversed an amount of Rs. 1,241/-. Rs. 1,241/- represented the credit relatable to inputs contained in the returned yarn. The lower authoriti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceipt in his records and shall be entitled to take CENVAT credit of the duty paid as if such goods are received as inputs under the CENVAT Credit Rules, 2002 and utilize this credit according to the said rules. (2) …………….. (3) …………….." There is no dispute that the appellants had reversed the credit relatable to inputs as such in stock, inputs contained in work-in-progress and the fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eated as inputs and accorded a different treatment on that account. The assessee is at liberty to deal with the said goods as it deems necessary. The Rule also allows liberty to the assessee to utilize the credit taken in accordance with CENVAT Credit Rules. The impugned order would be legally correct if the returned goods, namely, yarn the final product of the assessee, has to be treated as an in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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