Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Central Excise - Highlights / Catch Notes

Home Highlights July 2016 Year 2016 This

Reversal of cenvat credit on capital goods - loss of capital ...


CENVAT Credit on Capital Goods Unaffected by Insurance Compensation Claim for Fire Losses, Says Court.

July 24, 2016

Case Laws     Central Excise     AT

Reversal of cenvat credit on capital goods - loss of capital goods in the fire - The Compensation scheme from the insurance company has no relevance for availment of credit on capital goods purchased in 2006. The fact that the appellant claimed insurance, which is inclusive of Excise Duty, is not at all relevant. - AT

View Source

 


 

You may also like:

  1. Cenvat credit claims on spare parts considered as capital goods were rejected u/ss 11B and 12B of the Cenvat Excise Act. As per the definition of "Inputs" in Rule 2(k)...

  2. Cenvat credit on capital goods - No credit was availed in the initial (first) year - Whole of the credit (100% credit) was availed in the subsequent year - There is...

  3. CENVAT Credit - inputs or not - The CESTAT was justified in dismissing the Department’s appeal since the credit was claimed in respect of the inputs used for fabrication...

  4. CENVAT Credit - inputs or capital goods or used for the manufacture of the final product - steel items - appellant is not even claiming the Cenvat credit in respect of...

  5. Cenvat Credit on capital goods - simultaneous availing depreciation - As per Rule 4(4), it clearly provides that only part of the value of capital goods which represents...

  6. The case involved a dispute over CENVAT Credit denial based on a board circular alleging undervaluation of assets and claiming dual benefits. The Circular merely advised...

  7. CENVAT Credit - capital goods - availment of credit while availing depreciation - The adjustment in the balance sheet of 2015-16 cannot be considered as reversion of the...

  8. Recovery of CENVAT Credit - capital goods - availability of credit when the production started become dutiable - even if the goods per se were exempted during the...

  9. Rejection of remission of duty in respect of the goods lost in fire - once insurance company has granted the insurance claim for the principal amount of the goods...

  10. CENVAT credit - supporting structures for capital goods - Since, cargo handling is specified under the definition of capital goods, the appellant will be entitled to the...

  11. Disallowance of goods lost due to fire - addition invoking section 29 - Moment the insurance Co determines the loss in terms of the insurance policy obtained by the...

  12. Denial of remission of duty - Goods lost in fire - appellant has taken Cenvat Credit correctly and there is also no provision in the Cenvat Credit Rules to reverse...

  13. Denial of CENVAT Credit - inputs/capital goods or not - HR, MS and SS plates received and utilized during 2003 to 2005 for setting up of Copper III plant - The Tribunal...

  14. Cenvat Credit - Damage compensation given by the supplier of capital goods - There is no evidence on record that the supplier of the capital goods obtained any refund...

  15. The Appellate Tribunal addressed the issue of CENVAT Credit for insurance services and air travel agency services u/s Rule 2(l) of the Cenvat Credit Rules, 2004. It was...

 

Quick Updates:Latest Updates