TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Appellant denied duty exemption, ordered to pay Rs. 4.00 Lakhs. Stay granted for remaining penalty.</h1> <h3>SPS STEEL ROLLING MILLS LTD. Versus COMMISSIONER OF CENTRAL EXCISE, BOLPUR</h3> SPS STEEL ROLLING MILLS LTD. Versus COMMISSIONER OF CENTRAL EXCISE, BOLPUR - 2005 (186) E.L.T. 192 (Tri. - Kolkata) Issues: Availability of Cenvat credit of duty paid on capital goods.The judgment by the Appellate Tribunal CESTAT, Kolkata addressed the issue of the availability of Cenvat credit of duty paid on capital goods. The appellant argued for total dispensation of duty and penalty based on Rule 57AC(2)(c) and a clarification by the Ministry of Finance. However, the JDR countered, stating that the relevant rule at the time was Rule 57Q, which did not allow Modvat credit for certain steel products. The appellant was under the compounded levy scheme and received modvatable capital goods in early 2000. The JDR emphasized that the new Cenvat credit scheme was applicable only to goods received after April 1, 2000, and Rule 57AC did not apply to goods received prior to that date. The tribunal found that the appellant did not qualify for dispensation and directed them to pay Rs. 4.00 Lakhs within 12 weeks, with the remaining duty and penalty to be stayed pending compliance, setting a follow-up date for May 18, 2005. The decision was based on the specific rules applicable at the time of receiving the capital goods and the transition provisions for Cenvat credit utilization.
TaxTMI 
TaxTMI 
