https://www.taxtmi.com/caselaws?id=177100 Actual receipt and accounting of duty-paid goods are indispensable for valid Cenvat credit, and invoices issued without supply of goods cannot support credit passing through the chain. Dealers who divert goods to the grey market while circulating such invoices are treated as dealing in excisable goods, exposing the diverted goods to confiscation and penalty. Manufacturers who avail and utilise credit on the basis of invoices unaccompanied by goods remain liable for recovery of the irregular credit with interest and consequential penalty. Penalties may also sustain against persons who dealt with confiscable goods or facilitated diversion, but not where the statutory language, as it then stood, does not cover the person's role. en-us Fri, 04 Sep 2009 00:00:00 +0530 Tue, 13 Jun 2017 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177100 Actual receipt and accounting of duty-paid goods are indispensable for valid Cenvat credit, and invoices issued without supply of goods cannot support credit passing through the chain. Dealers who divert goods to the grey market while circulating such invoices are treated as dealing in excisable goods, exposing the diverted goods to confiscation and penalty. Manufacturers who avail and utilise credit on the basis of invoices unaccompanied by goods remain liable for recovery of the irregular credit with interest and consequential penalty. Penalties may also sustain against persons who dealt with confiscable goods or facilitated diversion, but not where the statutory language, as it then stood, does not cover the person's role. Case-Laws Central Excise Fri, 04 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177100