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of <h1>Use of notifications and CENVAT credit to evade duty on job-work transfers rejected; revenue-neutrality no exemption, duty payable</h1> <h3>M/s. Precision Moulds And Dies Versus Commissioner of Central Goods And Service Tax.</h3> The SC dismissed the special leave petition and upheld the HC's conclusion that specific notifications and CENVAT credit regimes cannot be used to ... Benefit of a specific notification regarding duty payment on goods transferred for job work - whether the concept of revenue neutrality based on CENVAT Credit could exempt the appellant from paying duty? - revenue neutrality - it was held by High Court that specific notifications and credit schemes should not be used to circumvent duty payment obligations - HELD THAT:- There are no good reason to interfere with the impugned order passed by the High Court - SLP dismissed. Having heard the petitioner's counsel and examined the record, the Court found 'no good reason to interfere with the impugned order passed by the High Court.' The Special Leave Petition was held to be without merit: 'The Special Leave Petition is, accordingly, dismissed.' All pending applications were also disposed of.
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