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of <h1>High Court rules against modvat for furnace oil in manufacturing goods on job work basis</h1> <h3>Commissioner Of Central Excise & Customs Versus Sunder Metal Pvt. Ltd.</h3> The High Court allowed the Revenue's appeal, ruling in favor of the Revenue and overturning the Tribunal's decision on availing modvat for furnace oil ... - Issues involved: Challenge to Tribunal's decision on availing modvat for furnace oil used in manufacturing goods on job work basis without payment of duty under Rule 57F(3).Summary:The Revenue challenged the Customs, Excise & Service Tax Appellate Tribunal's decision regarding availing modvat for furnace oil used in manufacturing goods on job work basis without duty payment. The substantial question of law framed was whether allowing modvat in such circumstances is lawful. The Revenue argued citing a Supreme Court decision and a previous judgment. Despite being served, the respondent did not appear. The High Court found the issue to be covered by the Supreme Court decision, emphasizing the principle that CENVAT credit for duty paid on inputs used in exempted final products is not allowable. The Court referred to specific provisions and observations from the Supreme Court decision to support its conclusion. As the issue was already settled by the Supreme Court, the High Court allowed the Revenue's appeal, answering the question in favor of the Revenue and reversing the Tribunal's decision.
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